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Import duties to increase on a number of automobiles
The Ministry of Finance has decided to raise import duties on a number of automobiles as of June 8 this year, in an effort to revise the preferential import tax rate for certain item groups.
According to a ministry circular, import duties will sharply increase for several types of automobiles from Japan, Australia, New Zealand and ASEAN countries.
The rate will climb to 70 per cent for limousines and diesel-run buses, which can carry 10+ people and which have a loading capacity of six to 18 tonnes.
Ambulances and motorised homes with a displacement capacity of one litre or below will be hit with an import tax rate of 78 per cent.
Trucks that are not registered for use on the highway would be taxed at 10, 30, 60 or 65 per cent, depending on their weight.
Specialised items currently enjoying preferential status, such as refrigerated lorries, dump trucks and tankers, will no longer be exempt from import duties. Their rate of taxation will be raised from zero to 20-25 per cent.
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