Transport firms can pay road fee in installments

Apr 22nd at 11:24
22-04-2014 11:24:37+07:00

Transport firms can pay road fee in installments

Transport enterprises who have to pay the road-use fee of VND50 million (US$2,380) per month or more will be allowed to pay every month instead of once a year as at present, a new draft decree has said.

The decree, which was prepared by the Ministry of Finance, stipulates that transport enterprises pay the fee the last day of the month.

Registration centres will be in charge of collecting the fee.

The decree was made following a proposal by many transport enterprises who protested at the large once-a-year payment.

The changes are expected to help transport enterprises avoid financial hardship, especially those controlling many trucks.

The decree also states that trucks owned by co-operatives and transport companies that closed down within 30 days would not have to pay the fee.

Vehicles used only at stations, ports, and mining and forestry areas will be exempt.

The fee levels will be adjusted for some kinds of vehicles. For example, buses will pay VND180,000 ($8.50) a month instead of the current VND590,000 ($28).

Previously, many enterprises protested at the collection of the fees, which they described as "improper".

Hoang Ngoc Thanh, director of Hoang Ha Transport Company in northern Thai Binh Province, said his company had more than 50 truck containers, and he had to pay more than VND400 million ($19,040) per year.

"It is improper. Not all of our trucks operate 30 days per month as they need time off for regular maintenance and drivers ask for their leave," he said.

The road-use fee, which requires motorbikes, cars and trucks and other engine vehicles nation-wide to provide funds for road maintenance, became effective on January 1 last year.

vietnamnews



NEWS SAME CATEGORY

Non-performing loans ratio stays high in City

There were VND45.85 trillion, or US$2.183 billion, worth of non-performing loans (NPLs) in HCM City at the end of March, accounting for 4.85 per cent of the city's...

Most FIEs in Vietnam transfer pricing, evade tax

The practices of transfer pricing and tax evasion have been found at nearly all the foreign invested enterprises (FIEs) that the General Department of Taxation...

PGBank, Vietinbank may not merge

Vietinbank was not mentioned in the new merger proposal submitted by the Management Board of Petrolimex's PGBank at PGBank's shareholder meeting held yesterday.

MDB shareholders approve merger

The Mekong Development Bank (MDB)'s shareholders' meeting on Tuesday adopted a plan for it to merge with a credit institution.

HCM City refunds $1.4m in VAT to foreigners

HCM City has refunded over VND30 billion, or US$1.4 million, of value-added tax (VAT) to foreigners leaving Vietnam through the Tan Son Nhat International Airport...

Big businesses wallow in “mountains of cash”

While the majority of businesses are thirsty for capital to maintain their production, the remaining weep because they have too much excess money.

Mekong Development Bank shareholders approve merger plan

The Mekong Development Bank (MDB)'s shareholders' meeting on April 15 adopted a plan for it to merge with a credit institution.

VAMC announces interest rate for purchased bad debts

Vietnam Asset Management Company (VAMC) will adjust annual interest rates for purchased bad debts at 10.7, 5.2 and 5.7 per cent for the Vietnamese dong, US dollar...

PG Bank mulls bank-in-bank merger with VietinBank

Industry insiders are mulling the possibility of an ailing commercial bank merging into a leading bank under the bank-in-bank model, unprecedented in Vietnam thus...

Banks still bear risks even after selling debts to VAMC

International institutions are remaining doubtful about the ability of the Vietnam Asset Management Company (VAMC) to settle bad debts.

Bank stocks

Insurance stocks


MOST READ


Back To Top