The Ministry of Finance plans to eliminate the import tax for auto materials and parts in order to support the development of the country’s automobile industry.

💮 The tax cut was included in the Government’s revised decree on the schedule for preferential import tariffs, flat taxes, compound tariffs and out-of-quota import tariffs.

The Ministry of Finance said it will develop preferential tax policies for raw materials and auto parts for automobile manufacturing and assembly from now until 2023.