VnnNews – The Ministry of Industry and Trade (MOIT) has suggested imposing a luxury tax on mobile phones as car tariffs could also rise.
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Instead of raising tariffs to restrict imports, MOF has suggested using non-tariff measures. These include Government agencies limiting the number of border gates through which imports are allowed to pass.
Additionally, they suggest only allowing mobile phones which have International Mobile Equipment Identity (IMEI) numbers to guard against counterfeit or stolen phones.
Meanwhile passenger carrying vehicles with less than 15 seats may be subject to a proposed import tariff rise with the MOIT aiming to curb trade defecits.
The domestic demand is expected to increase further in the fourth quarter of the year, which will lead to the higher imports in the upcoming months, especially the imports of cars, electronics, mobile phones, food and drinks.
However, the MOF does not agree with the MOIT saying now is not the right time to raise tariffs on passenger carrying vehicles – calling them “sensitive” products.
However, import tariffs currently imposed on vehicles with less than 15 seats remains lower than the 91 per cent rate
The ministry is worried that when domestic production cannot meet demand, the tariff increases will lead to ‘car price fever’ and sky rocketing prices.
In addition, MOIT plans to remove current tax incentives will disappoint automobile manufacturers. The Vietnam Automobile Manufacturers’ Association, which represents most of automobile manufacturers in
VietNamNet/VNE
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