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On the morning of April 23, Parliament discussed a draft Law Amending and Supplementing several tax laws, including changes to excise taxes. The government proposal would extend tax incentives for passenger cars with up to 24 seats for three additional years, keeping the excise tax on electric vehicles (EVs) with fewer than 9 seats at 3% through 2030. From 2031, the draft envisages a sharp increase—by roughly 3.5 to 4 times—depending on vehicle type and seating capacity.
The draft sets out the following excise tax rates for EVs:
Some lawmakers argued that the proposed jump could have abrupt market effects and urged the drafting agency to consider a stepped schedule rather than a single sharp adjustment in 2031.
Vice President of the Vietnam Fatherland Front Committee, Vo Ngoc Thanh Truc, urged consideration of an adjustment mechanism that would divide the increase into cycles of 2–3 years. She suggested an example path from 3% to 8%, followed by 11%, instead of a sudden rise in 2031.
Truc said gradual increases would help limit price shocks, support market stability, sustain momentum for the green transport ecosystem, and secure budget revenue.
Delegates from Ho Chi Minh City warned that increasing the tax by 3–4 times could create a “psychology of buying cars for tax reasons,” potentially triggering a price spike toward the end of 2030. They also noted that the financing plan to recover capital for charging infrastructure investors could be at risk.
Thanh Phuoc Binh, a deputy from the Vinh Long delegation, assessed that the proposed increase for EVs under 9 seats—from 2031 to 4%—would be nearly four times the current rate and close to the rate expected to be maintained through 2030. He proposed conducting an early market impact assessment in 2028 and adopting a gradual tax-increase plan.
The National Assembly’s specialist delegation also recommended a softer schedule and suggested linking adjustments to market indicators such as EV market share, charging infrastructure, and battery costs. It further noted that EV excise tax should be considered within a broader policy framework, including registration fees and charging-station incentives.
One deputy said this approach would help avoid creating expectations at a fixed time or encouraging front-loading purchases ahead of deadlines, which could distort the market.
In response to the recommendations, Finance Minister Ngo Van Tuấn said he would seriously consider them to refine the plan. The National Assembly is scheduled to vote on amendments to the Law on Personal Income Tax, Value Added Tax, Corporate Income Tax, and Special Consumption Tax during the morning session on April 24.
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