Vietnam hikes import tariffs on used cars

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The government has hiked import tariffs on used cars with nine seats or less by up to a fifth with effect from June 20.

Under a new decree, the tax on vehicles with an engine capacity of less than 1,000cc will rise by 19 percent to US$5,000.

For cars with 1,000-1,500cc engines, it will increase by 4 percent to $10,000.

The last tariff hike was done in mid-2011 when the import duties went up to $4,200 and $9,600 respectively.

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