Failure to transfer automobile ownership to incur fines

Thien Thanh Sanitaryware joint company

Failure to transfer automobile ownership to incur fines

As of January 1, 2015, individuals or organizations that are found not making ownership transfers for their automobiles in Vietnam will be fined, according to a government decree.

Accordingly, a fine of VND1-2 million (US$47-48) and of VND2-4 million ($94-$188) will be applied respectively to individuals and organizations that possess automobiles that were sold or gifted to them but their owners have yet to carry out procedures for change of ownership.

Such fines are stipulated in Governmental Decree 171/2013 dated November 13, 2013, that replaced Decree 71 governing this issue.

The fine rates in new decree are over 50 percent lower than those in the old one.

Meanwhile, motorbikes’ owners who fail to carry out ownership transfer procedures will not be fined until 2017, according to Decree 171.

The fines for motorbikes’ owners are VND100,000-200,000 for individuals and VND200,000-400,000 for organizations.

Earlier, according to Decree 71 that took effect on November 10, 2012, the fines were set much higher:  VND2-4 million ($94-$188) for owners of motorbikes and VND6-10 million for cars' owners.

According to Circular 11 that guides the implementation of  Decree 71, such fines were supposed  to take effect from April 15, 2013, but following many feedback from concerned agencies, lawyers, and the public, the deadline was delayed.

On November 13, 2013, the Government issued Decree 171/2013 that replaced Decree 71 and took effect on January 1, 2014.

However, the deadline for the application of such fines has been delayed again until January 1, 2015 for cars and until January 1, 2017 for motorcycles.

Source: Tuoitrenews