I like cars, although I do not have one yet because all of my money has been put into my business. I dream that one day I will buy a good one to proudly give my friends a ride. However, I will definitely not buy a car that is worth US$1 million. That said, someone did just that yesterday.

On August 21, a Vietnamese car trading company Hoang Trong Ltd presented in its showroom the Phantom car that is said to be worth over US$1 million. Woah! It is unbelievable. I thought its interior must have gold or diamonds all over the place.


What has been said in the newspapers is that the company ordered the Rolls Royce since last year.

Due to Vietnam's tax system on imported cars, the importer has to pay three different taxes including: 70 percent on import tax, 50 percent for the special consumption goods tax, and 10 percent for value-added tax (VAT). That is why you may find the Phantom being sold in the US for over US$300,000, but US$1 million in Vietnam.

I am not sure whether the company imported it for its own use or for sale to the public. Nevertheless, whoever drives it will definitely take very good care of it just like taking caring of a little baby. Don't give me a free ride. You may regret it later on!

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