The ministry said consumers will benefit from tax reductions due to decreasing product prices.

 VietNamNet Bridge – Dr Bui Trinh, an economic expert, talks to Nong Thon ngay nay (Countryside Today) newspaper about the need to tell taxpayers how their money is used.

 VietNamNet Bridge – On May 10 the Viet Nam Competition Authority warned that the import tax on crude and refined edible oils, reduced from 3 per cent this month to 2 per cent, would be scrapped altogether in May 2017.

 VietNamNet Bridge – Prime Minister Nguyen Tan Dung has approved calculation of petroleum import tax based on weighted average of the tariffs, taking into account Most Favoured Nation status and Free Trade Agreement.

 VietNamNet Bridge – Import tax on auto spare parts and components may be down to zero per cent next year, two years before schedule in 2018, under the ASEAN Free Trade Agreement (FTA).

 VietNamNet Bridge – The European Union (EU) will remove 85.6% of tariff lines for Vietnam’s goods exports immediately after a bilateral free trade agreement (FTA) between the two sides comes into force.

 VietNamNet Bridge – Sales of domestically assembled cars in Viet Nam rose 19 per cent in 2013, the Viet Nam Automobile Manufacturers Association (VAMA) said last Saturday.

 VietNamNet Bridge – The Ministry of Finance has proposed raising special consumption taxes on vehicles imported by repatriating Vietnamese citizens (Viet Kieu).

VietNamNet Bridge – Returning overseas Vietnamese would have to satisfy stricter regulations to be exempt from import tax and value added tax on the cars and motorbikes they bring back home.

 VietNamNet Bridge – Seven decrees of the Government, one decision signed by the Prime Minister, and two ministerial-level circulars will take effect since June 2013.

When automobile manufacturers’ association reported the sharp falls in the car sales, big worries have been raised--not only to the manufacturers, but to local authorities as well.