Yuanta Reports

Govt considering to increase tax on used car imports

The government is considering increasing taxes on used car imports and encouraging auto companies to set up assembly plants in Cambodia. Kun Nhem, director-general of the General Department of Customs and Excise (GDCE), said that higher taxes on used car imports would encourage more people to consider a new car, which would help the environment and be safer and more economical. The government would not ban the import of used cars but would likely increase taxes on cars made before 2000 to stop grey dealers from importing grey old cars which impact the environment and affect consumers’ safety, he added. Nhem also mentioned that the government was offering a 50% tax cut for manufacturers who assembled finished vehicles in the country. According to the official, Cambodia imported about 6,000 used and new cars per month, with new cars accounting for about 15% of total imports. (Source: Khmer Times)

Economy & Industry

26th March 2018

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