On February 10, 2025, the Government issued Decree 21/2025/ND-CP amending Article 9 of Decree 26/2023/ND-CP on Export Tariffs, Preferential Import Tariffs, List of goods and absolute tax rates, mixed taxes, and out-of-quota import taxes, which amends regulations on tax incentives for automobile supporting industries.
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According to Article 9, preferential import tax rates for raw materials, supplies, and components for the production and processing (assembly) of supporting industry products prioritize the development of the automobile manufacturing and assembly industry until December 31, 2027 (referred to as the Automotive Supporting Industry Tax Incentive Program).
Regulations on the preferential import tax rate of 0% for raw materials, supplies, and components that cannot be produced domestically for the production and processing (assembly) of supporting products prioritized for development of the automobile manufacturing and assembly industry (referred to as automobile supporting industrial products) until December 31, 2027 as follows:
- At the time of registering the customs declaration, the customs declarant declares and calculates tax on imported raw materials, supplies, and components according to the normal import tax rate or preferential import tax rate or special preferential import tax rate according to regulations, the 0% tax rate is not yet applied.
- The application of the preferential import tax rate of 0% for raw materials, supplies and components of the Automotive Support Industry Tax Incentive Program is implemented according to the provisions of Clause 2, Clause 3, Clause 4, Clause 5, Clause 6, Clause 7, Clause 8, Article 9 of Decree 26/2023.
Note:
Preferential import tax rates for raw materials, supplies, and components for the production, processing (assembly) of supporting industry products with priority development for the automobile manufacturing and assembly industry specified in Decree 21/2025/ND-CP are applicable until December 31, 2027. Enterprises that have registered to participate in the Automobile Supporting Industry Tax Incentive Program prescribed before the Decree 21/2025/ND-CP takes effect without having to re-register for the Automobile Supporting Industry Tax Incentive Program and enjoy incentives according to the provisions of Decree 21/2025/ND-CP.
Decree 21/2025/ND-CP takes effect from February 10, 2025.
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