The news on reducing import tariffs on Chinese cars to 50 percent is not accurate, according to the Ministry of Finance.

According to Decision 35/2006/QD-BTC dated June 12, 2006, only golf and racing cars will enjoy a 50 percent tax cut rate if they meet conditions to enjoy preferential tax rates under the ASEAN-China Free Trade Agreement (ACFTA). The current import tax rates are still applied to other kinds of vehicles.