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Tuesday, October 4, 2022

Electric vehicles to be exempt from registration fee from March

The Saigon Times

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HCMC – The Government has issued a decree exempting the buyers of electric vehicles from registration fees for three years starting from March 1 to promote the consumption of electric cars in the local market and develop the environmentally-friendly vehicle segment.

In the next two years, the registration fee for electric cars will be half that of fuel-run vehicles with the same number of seats, according to the decree.

Besides, fuel-powered cars with fewer than nine seats are subject to a registration fee of 10% of their value, according to the decree issued on January 15.

The buyers of under-five-seat pickup trucks and vans with a load of less than 950 kilograms must pay a registration fee at 60% of that for under-nine-seat cars.

The decree also regulates that the registration fee for motorcycles is 2%. As for the purchase of motorbikes in cities and towns, the registration fee is 5% of their value.

Meanwhile, the registration fee for locally-assembled or manufactured cars continue to be halved until the end of May.

The decree will take effect from March 1, the local media reported.

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