Vietnam Plans to Extend Special Consumption Tax Exemption for Electric Vehicles Until End of 2030

April 21, 2024 - The Office of the National Assembly of Vietnam announced that Vietnam plans to extend the special consumption tax exemption policy for electric vehicles until the end of 2030, aiming to further stimulate EV sales and promote emission reductions in the transportation sector. Data shows that in March 2022, Vietnam significantly reduced the special consumption tax on electric vehicles from the original 4%-11% to 1%-3%, with the original preferential policy scheduled to expire in February 2027. The proposed extension is intended to maintain policy stability, continuously lower the cost of vehicle purchases for consumers, and accelerate the adoption of new energy vehicles. Currently, the proposal has been submitted by the Ministry of Finance to the National Assembly for deliberation. [Source: Ebrun Go. This article is generated by an automated writing robot developed by Ebrun, which uses algorithms to deliver e-commerce industry intelligence in real time. This 'dog' is still young; please contact run@ebrun.com or leave comments to help it grow.]