Extended payable excise tax will help boost domestic automobiles

The Ministry of Finance (MoF)’s proposal to extend the deadline for excise tax payment for locally manufactured and assemble cars will help businesses get more financial resources and restore their production, according to Dinh Trong Thinh, a senior lecturer at the Finance Institute.

Gov't extends excise tax payment deadline for local cars

The Government promulgated Decree No. 32/2022/ND-CP, dated May 21, 2022 to extend deadline for payment of excise tax on domestically produced and assembled cars.

Many countries levy excise tax for gasoline

Through the study of many countries in the world, it shows that many countries levy an excise tax on gasoline, including wealthy countries. Because gasoline is a non-renewable, fossil fuel that needs to be used sparingly, it is always subject to excise tax according to international practice.
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