Ministry proposes cutting 50 percent of environmental tax on petrol

The Ministry of Finance said it has completed the National Assembly Standing Committee’s draft Resolution on the adjustment of environmental protection tax rates for gasoline, oil, and grease, which is set to become effective from April 1 to the end of December 31 this year.

Friday, March 11, 2022 10:26

Ministry proposes cutting 50 percent of environmental tax on petrol ảnh 1

Illustrative photo (Source: VNA)

Hanoi (VNA) – The Ministry of Finance said it hascompleted the National Assembly Standing Committee’s draft Resolution on the adjustmentof environmental protection tax rates for gasoline, oil, and grease, which isset to become effective from April 1 to the end of December 31 this year.

It proposes to reduce the tax rates forgasoline by 2,000 VND (0.088 USD) per litre; diesel, fuel oil, and lubricatingoil by 1,000 VND per litre; grease by 1,000 VND per kg; and kerosene by 700 VNDper litre.

Given the complicated developments of the global petroleummarket and COVID-19 situation, the Prime Minister on February 22 issued adispatch on ensuring the supply of petroleum for the domestic market, directing the ministry to assumethe prime responsibility for and coordinate with the Ministry of Industry andTrade and relevant agencies in urgently studying and proposing a plan to adjustpolicies on environmental protection tax.

Under the direction, the finance ministry conducted draftingthe resolution following a shortened procedure./.

VNA

#Ministry of Finance #environmental tax on petrol #draft Resolution #vietnam #vietnam news agency #vietnamplus

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