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Imported bus parts enjoy tax holiday

Update: April, 13/2012 - 11:00

HA NOI — Deputy Prime Minister Vu Van Ninh agreed to an import tax exemption for spare bus parts and accessories that can not be produced by the local market, the Government website reported on Wednesday.

The exemption is part of a programme on public transportation investment and development aimed at buses in Ha Noi and HCM City.

Ninh stressed that the exemption would only be applied for bus production projects and would need to be ratified by relevant authorities. In addition, the time to implement projects as well as the quantity, quality, categories and value of imported spare parts and accessories needed to be clearly defined.

The Ministry of Transport, in co-operation with the Ministry of Planning and Investment, the Ministry of Finance, and the People's Committees of Ha Noi and HCM City, will take responsibility for issuing specific guidelines to enterprises.-VNS

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