HCMC – In response to the value added tax cut from 10% to 8%, the Vietnam Expressway Corporation (VEC) has lowered the toll fees for several expressways under its management starting July 1, said local news reports.
The new rates are in effect until December 31, 2023, for vehicles passing through the tollgates of four expressways: Noi Bai-Lao Cai, Cau Gie-Ninh Binh, Danang-Quang Ngai, and HCMC-Long Thanh-Dau Giay, according to the Vietnam News Agency,
The Noi Bai-Lao Cai Expressway sees the most significant reduction, with toll fees decreasing by VND22,000 in proportion to the travel distance from Km6 to the IC12 interchange. The smallest reduction on this route, from Km6 to the IC3 interchange, is VND1,000.
Similarly, the highest and lowest toll fee reductions for the Cau Gie-Ninh Binh Expressway are VND3,800 and VND1,000, respectively. The Danang-Quang Ngai and HCMC-Long Thanh-Dau Giay expressways have maximum reductions of VND14,000 and VND7,000, while the minimum reductions for these two expressways will be VND1,000.
The purpose of toll fee collection is to ensure capital recovery for projects in accordance with the investment decision approved by the Ministry of Transport.
Regarding the toll fee reduction for all BOT tollgates nationwide, corresponding to the 2% decrease in value-added tax from 10% to 8%, the Department for Roads of Vietnam has requested investors and service providers to prepare for the implementation of the new toll fee rates.
Source: The SaigonTimes