THE MINISTRY OF FINANCE-THE MINISTRY OF INDUSTRY-THE GENERAL DEPARTMENT OF CUSTOMS
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SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom- Happiness
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No.92/TTLT-BTC-BCN-TCHQ

Hanoi, November 20, 2001

JOINT CIRCULAR

GUIDING THE IMPLEMENTATION OF THE TAX PREFERENCE POLICY FOR THE MANUFACTURE OF MOTORCYCLES AND THEIR ENGINES

Proceeding from the directing opinion of the Prime Minister in Official Dispatch No.  938/CP - KTTH  of October 18, 2001 regarding the policy on the localization of motorcycles;

In order to promote the domestic manufacture of motorcycle details and parts to substitute imports and at the same time create favorable conditions for the managerial work, the Ministry of Finance, the Ministry of Industry and the General Department of Customs hereby jointly guide the implementation of the tax preference policy for the manufacture of motorcycles and their engines as follows:

I. SUBJECTS OF APPLICATION

Enterprises established under the provisions of Vietnamese law and engaged in the manufacture and/or assembly of motorcycles and their engines (including foreign-invested enterprises) shall be the subjects of application of the tax preference policy prescribed in this Circular.

II. TERMS AND PHRASES USED IN THIS CIRCULAR ARE CONSTRUED AS FOLLOWS:

- Localization: means the process of domestic manufacture and assembly for substitution of imports.

- Details mean elements not yet assembled (or elements undetachable or indivisible).

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