Vietnam raises tax on locally assembled cars

Newswire

HANOI, May 30 (Reuters) - Vietnam's legislators have voted to increase the special consumption tax on locally assembled cars from 2004 to as much as 24 percent, raising the ire of foreign auto makers who fear a possible slump in sales. A government-run Web site reported the National Assembly on Tuesday ratified that beginning on January 1, 2004, locally assembled cars would have special consumption taxes ranging between 7.5 and 24 percent, depending on the type of vehicle. The current ...

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