As of March 1, 2025, electric cars running on batteries will no longer be exempt from registration fees in Vietnam.
Previously, in 2022, the Vietnamese government issued Decree 10/2022, which provided a 5-year incentive on registration fees, including a 100% exemption for the first 3 years and a 50% reduction in the registration fee for the next 2 years, compared to gasoline and diesel cars with the same number of seats.
This means that from March 1, 2025, onwards, buyers of electric vehicles will have to pay 50% of this fee.
Recently, VinFast sent a proposal to the government requesting an extension of the 100% exemption on registration fees for another 3 years until 2028 and a 50% reduction for the subsequent 3 years.
According to VinFast, supporting registration fees is effective in promoting a green transition in Vietnam, especially as the country faces severe environmental pollution from emissions of fossil fuel-powered vehicles and is entering a phase of motorization.
Many countries worldwide have implemented policies to encourage and accelerate the green transition, such as providing direct subsidies for vehicle and electricity purchases or offering land, financial, credit, and tax incentives for businesses producing and developing electric vehicles.
In response to VinFast’s proposal, based on the Prime Minister’s directive, the Ministry of Finance has drafted two options for reducing registration fees for electric vehicles and sought feedback from relevant ministries.
The first option is to maintain the current policy of reducing registration fees for electric cars by 50% to ensure stability and avoid impacting state budget revenues (estimated budget reduction of VND 627 billion/year).
The second option is to implement an incentive policy for green transportation by considering a 100% exemption on registration fees for the remaining two years, from March 1, 2025, to February 28, 2027. Six months before the end of the 5-year incentive period, an evaluation will be conducted to propose policies for the next phase.
Currently, the Ministry of Finance leans towards the first option, implying no extension of the 100% exemption on registration fees. Instead, they will continue with the current policy of reducing registration fees until February 28 and then conduct an evaluation before the official conclusion of the incentive period in 2027.
TH (Tuoitrethudo)
The Top 10 Best-Selling Urban Cars Worldwide in 2024: Vietnam’s Most Affordable Car Takes the Lead
The Wuling Hongguang Mini EV is not just the most affordable car in Vietnam, but it has also claimed the title of the best-selling urban vehicle worldwide in 2024.
Ferrari Breaks Revenue Records in 2024: Order Books Full Until 2026
Recently, Ferrari unveiled its financial results for the year 2024.
“The Ultimate Guide to Vehicle Structural Modifications: Avoid Hefty Fines Up to 150 Million Dong”
Below, we delve into the world of vehicle modifications and provide insightful answers to pressing questions. What exactly does it mean to alter a vehicle’s structure? Are there penalties for making such changes, and if so, what are the consequences? Lastly, we will guide you through the intricate process of obtaining official permission to modify your motorcycle’s structure.
Toyota Vietnam Achieves 20 Million Service Milestone for Genuine After-Sales Services
Toyota Vietnam is proud to announce a remarkable milestone: 20 million vehicles have now been serviced at our authorized dealerships and service stations across the nation. This is a testament to our unwavering commitment to delivering exceptional after-sales service and an unparalleled customer experience. With each service, we strive to ensure that our customers’ vehicles are maintained to the highest standards, providing them with peace of mind and a reliable driving journey. This achievement is a reflection of the trust and loyalty that our customers have shown us, and we are deeply grateful.
The Future of Electric Cars: Unraveling the Registration Fee Mystery from March 2025
The waiver on registration fees for electric cars will come to an end, and buyers of these vehicles will have to pay the fee from March 1st onwards.
