Electric cars are proposed to have 0% registration fee for another 2 years

The Ministry of Finance has proposed maintaining the initial registration fee at 0% for battery-powered electric vehicles until February 28, 2027, an extension of two years compared to the current regulations.

The Ministry of Finance proposes maintaining the initial registration fee at 0% for battery-powered electric vehicles until February 28, 2027 - Photo: Provided.

Proposal to maintain registration fees for battery-powered electric vehicles until the end of February 2027.

The Ministry of Finance is seeking comments from ministries and branches on the second draft of the decree amending and supplementing Decree No. 10/2022 on registration fees.

Accordingly, the Ministry of Finance proposes maintaining the initial registration fee at 0% for battery-powered electric vehicles until February 28, 2027, instead of February 28 this year as stipulated in Decree 10 of 2022.

Based on this proposal, the Ministry of Finance explained that the 0% registration fee for battery-powered electric cars applied for nearly 3 years has basically contributed to improving air quality and protecting the environment.

Promoting the production and consumption of environmentally friendly vehicles.

Specifically, according to the Ministry of Finance, the benefits of this policy are very clear. As for consumers, this policy encourages people to use battery-powered electric cars due to reduced costs.

As for businesses, the policy of tax and fee exemptions and reductions aims to encourage investment in the production and use of battery-powered electric vehicles.

Businesses can confidently maintain stable production and operations, expand production scale, invest in new machinery and equipment, modern technology, improve productivity, and boost sales of environmentally friendly vehicles.

Continuing to apply a 0% registration fee for battery-powered electric vehicles contributes to the development of the electric vehicle market and industry, as well as related industries, creating jobs, increasing income for workers, and promoting economic growth.

Regarding the impact of this policy on budget revenue, the Ministry of Finance estimates a reduction in budget revenue of approximately 4,800 billion VND per year.

"In the first years of entering the market, the rate of registration of battery-powered electric cars for the first time was quite high. However, up to now, the number of battery-powered electric cars entering the market has gradually stabilized.

Assuming the same number of battery-powered electric cars registered in 2024, if the 0% registration fee is applied to battery-powered electric cars from March 1 of this year to February 28, 2027, it will reduce the state budget revenue from registration fees by about VND4,800 billion/year," the Ministry of Finance informed.

Read more Back to the Home page

Source: https://tuoitre.vn/o-to-dien-duoc-de-xuat-ap-le-phi-truoc-ba-0-them-2-nam-nua-20250217221945619.htm