Investment Capital Contribution in type of cars imported into Vietnam

Hi DMS Law firm in Danang, Vietnam! I register to contribute capital into a 100% FDI company in Vietnam in type cars imported into Vietnam. Can you advise me on condition for importing of cars, dossier, customs procedure for importing 100% brand new cars into Vietnam ? Import tariffs, tariff rates on cars imported into Vietnam ? 

Hi! 

Conditions for import of cars in Vietnam:

100% brand new cars that are not subject to prohibited goods (Annex I Part II attached to Decree No.187/2013/NĐ-CP dated November 20, 2013).

When conducting importing procedures for cars from 09 seats or less, apart from implementation of current regulations, traders must provide following additional documents to the competent state agency: Appointment paper or power of attorney as an importer, distributor of the such car maker, trader who trades such type of car or agent contract of the such car maker, trader who trades such type of car which were consular legalized by the overseas-based Vietnam diplomatic representative agency as prescribed by law: 01 (a) copy certified and sealed true copy of traders (Clause 1 Article 1 Circular No. 20/2011/TT-BCT dated May 12, 2011).

Procedure to apply for import permit of cars:

Dossier for import permit of cars, includes: Application form for importing of cars, passport: 01 copy; bill of lading or equivalent paper of a bill of lading: 01 copy; other papers relating to the imported cars; confirmation letter of the duration of assignment in Viet Nam decided by the foreign employer: 01 original; notification or confirmation letter or donation agreement, gift agreement signed by the foreign parties: 01 authenticated translation into Vietnamese (Clause 1 Article 4 Circular No. 143/2015/TT-BTC dated September 11, 2015).

Prodecure for importing of cars:

Prodecure for importing of cars, includes: Import permit of cars: 02 originals; Bill of lading or equivalent papers: 01 copy; Customs declaration form promulgated together with Circular No. 38/2015/TT-BTC dated March 25, 2015; Declaration form for quality, technical safety quality and environmental protection inspection for imported motor vehicles: 01 original; Authorization letter for objects mentioned in Clauses 1,2,3 and 4 Article 2 of this Circular, to authorize other organizations, individuals in Vietnam to implement customs procedure for import of cars (if applicable): 01 original.

Tax on imported cars in Vietnam:

Annex II Preferential import tariff schedule of taxable products on the list, issued together with Decree No. 125/2017/NĐ-CP dated November 16,  2017 by the Government.

Special consumption tax on cars in Vietnam:

Article 2  Law No. 106/2016/QH13 dated April 06, 2016 amending and supplementing a number of articles of the Law on Value-Added Tax, the Law on Excise Tax and the Law on Tax Administration

Decree No.18/VBHN-BTC dated October 21, 2016 detailing some articles of the Law on Excise Tax and the Amended Law on Excise Tax.

Value Added Tax (VAT) on cars:

10% tax shall be levied on the goods and services that are not mentioned in Clauses 1 and 2 of this Article (Clause 3 Article 8 Law on Value Added Tax No. 01/VBHN-VPQH dated April 28, 2016).

Consulting services: 

Phone: 0914 165 703 or Email: dmslawfirm@gmail.com 

Investment Capital Contribution in type of cars imported into Vietnam