Vietnam delays car part tariff hike
HANOI - Vietnam said on Friday it
has decided to delay the
implementation of a policy under
which tariffs on imported car parts
would have risen sharply.
The December decision would have
resulted in a doubling or, in some
cases, quadrupling of tariffs from
Jan. 1 on imported parts for the
small but rapidly growing
auto-making industry.
"The Finance Minister has today
issued a notice to delay the
implementation of the decision
No.146," the head of the ministry's
General Tax Department Nguyen
Van Ninh told Reuters.
The Vietnam Automobile Manufacturers' Association said earlier this month the
tariff hike on parts would raise retail prices of cars by at least 15 percent next year
and by 35 percent in 2004.
Reuters - December 27, 2002.
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