Gasoline tax reduced to 18% from May 24

The Ministry of Finance has just officially reduced import tax rates on some gasoline products from 19% to 18%.

According to Circular No. 70/2013/TT-BTCOn May 23, the Ministry of Finance officially revised the preferential import tax rates for a number of items in group 2710 in the Preferential Import Tariff.

Specifically, the items with reduced tax are motor gasoline; tetrapropylene; white spirit; solvents with low aromatic content of less than 1% by weight; other light solvents such as naphtha, reformate and other preparations for blending motor gasoline; other alpha olefins.

This is the first time in 2013 that the Ministry of Finance has adjusted down gasoline import tax after three consecutive increases (from 12% to 19%).

The Circular takes effect from May 23./.

According to (vov.vn) - LT