Environmental protection tax on gasoline increased 3 times
Environmental protection tax on gasoline and jet fuel will be adjusted to increase from VND 1,000/liter to VND 3,000/liter.
From May 1, the environmental protection tax rate on some petroleum products will be officially adjusted to increase by 3 times compared to the current level.
| Environmental protection tax on gasoline and jet fuel will be adjusted to increase from VND 1,000/liter to VND 3,000/liter. |
The Ministry of Finance said that the environmental protection tax on gasoline and jet fuel will increase from VND1,000/liter to VND3,000/liter; diesel oil will increase from VND500/liter to VND1,500/liter; fuel oil will increase from VND300/liter to VND900/liter; and kerosene will maintain the tax rate of VND300/liter. The state budget will increase revenue by VND10,831 billion from the increase in environmental protection tax on gasoline.
Along with increasing environmental protection tax, the Ministry of Finance has officially reduced import tax on petroleum products. Accordingly, RON 92/95 gasoline and kerosene: reduced from 35% to 20%; diesel: reduced from 30% to 20%; fuel oil: reduced from 35% to 25%; jet fuel: reduced from 25% to 10%. The reduction of preferential import tax on petroleum will reduce the state budget revenue by 13,000 billion VND.
The Ministry of Finance affirmed that the purpose of environmental protection tax is to adjust production and consumption towards environmental protection, encourage production and use of clean and economical energy... When applying environmental protection tax, the Ministry of Finance will flexibly calculate and use the gasoline price stabilization fund, along with appropriate gasoline import tax policies, so it basically does not affect domestic retail prices much.
Regarding the use of environmental protection tax as well as tax policy on gasoline in the coming time, Mr. Pham Dinh Thi - Director of the Tax Policy Department said: "The Law on environmental protection tax on gasoline was issued by the National Assembly and collected absolute rates for a number of items. The use of revenue from environmental protection tax will be based on the current state budget law. Regarding tax policy in the coming time, because it is also related to the domestic production situation, we will closely monitor the world price situation, on that basis propose appropriate policies."./.
According to VOV
