Vietnam’s government reduces its proposed 70% consumption tax on locally assembled automobiles to 30% in the wake of protests from foreign auto makers. State officials say the new proposal being sent to Vietnam’s parliament sees the 30% rate taking effect Jan. 1, 2004, with a gradual rise to 50% at a not-yet-determined date. The Vietnam Automobile Manufacturers Assn., which represents foreign car makers, immediately criticized the proposal. "The 30% rate is still too much for us," ...
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