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| PM's approval required before aircraft purchases |
Under the new rules, The Ministry of Transport will be responsible for carrying out projects to buy aircraft using state budget.
The new regulation was included in the Government’s recently-issued decree on management over the purchase and hiring of aircraft and accessories.
The regulation will take effect from February 1, 2012.
The move is aimed at tightening control over the importation and use of expensive vehicles; not just planes, but yachts and luxury cars.
While, currently there is no actual import tax rate for aircraft and accessories, Vietnam is applying an excise tax of 30%, as well as a valued added tax of 10% on these imported items.
