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AUTO IMPORT TAX INCREASE TO HELP REDUCE VIETNAM'S TRADE DEFICIT.
HANOI, June 2 Asia Pulse - Asia Pulse - A senior Vietnamese Government official said the increase in car import taxes is aimed at reducing imports, facilitating the automobile industry and helping reduce the trade deficit.
Finance Minister Vu Van Ninh made the statement on May 30 during the question and answer session of the on-going National Assembly. The Minister said the government has taken a series of measures to curb the galloping trade deficit, including tax policy.
While cars and components do not have a large import value, they are among a group of imports that are being discouraged. Therefore, the adjustment of the import tax on auto imports is correct and necessary, Ninh added.
During the session, the finance minister also answered deputies' questions about the stock market, which has seen its key index the VN-Index drop 52 per cent from early in the year.
Ninh, who attributed the decrease to the impacts of macro-economic ...
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