HCMC has approved a plan to raise registration fees for new automobiles and motorbikes to the highest level, with the fee for under-nine-seat cars being raised to VND20 million from VND 11 million (US$ 860).
Vehicles travel on a street in HCMC. The city has approved a plan to raise registration fees for new automobiles and motorbikes to the highest levels regulated in Circular 229 of the Ministry of Finance.
At an extraordinary meeting held by the the HCMC People's Council on October 6th, participating delegates passed the increase in the registration fee, which will come into force next week.
Apart from the highest fee increase for under-nine-seat vehicles, the city raised the fee from VND 750,000 to VND 1 million for motorbikes that cost up to VND 15 million each.
Motorcycles priced at more than VND 15 million to VND 40 million each are subject to a new fee of VND 2 million instead of the previous VND 1.5 million. The registration fee for motorbikes worth over VND 40 million each will be VND 4 million, up VND 1 million.
HCMC Vice Chairman Vo Van Hoan noted that the new fees are equivalent to those imposed by Hanoi City. The highest fees are regulated in Circular 229 from the Ministry of Finance.
The new fees will come into force on October 17th. The HCMC police will be in charge of collecting the fees for submission to the city's budget.
The city sees some 30,000 vehicles on average being registered each month.
In addition, at the meeting, the delegates also approved the resolution on the VND 100-billion investment to build the city's startup center. The HCMC People's Council Chairwoman Nguyen Thi Le stated that the project will play an important role in promoting the city's innovative startup activities.