Oct. 12 – The General Customs Department of Vietnam has set higher minimum taxable prices for more than 600 models of imported cars, following allegations that local importers were under-invoicing to avoid higher taxes.

Thanh Nien reports that there have been cases wherein car importers were caught declaring lower prices for imported cars. Taxable prices of all imported cars, both new and used, will now be increased by 3 and 20 percent.

The new rule will affect consumers when it increases retail prices for automobiles although it would help local car manufacturers set their prices more competitively .