The National Assembly Standing Committee passed a resolution to reduce environmental protection tax on gasoline.

National Assembly Chairman Vuong Dinh Hue said that the National Assembly Standing Committee highly appreciated the Government, specifically the Ministry of Finance, for being very responsible in closely following the actual developments of the implementation of general policies according to the conclusions of the Central Committee and the National Assembly's resolutions to have today's submission; which was highly appreciated by public opinion.

A meeting of the National Assembly Standing Committee.

The National Assembly Standing Committee highly approved and decided to issue a Resolution on environmental protection tax rates for gasoline and oil as proposed by the Government with 100% approval from members present.

Accordingly, the tax rate on gasoline (except ethanol) is reduced from 2,000 VND/liter to the floor level of 1,000 VND/liter; Aviation fuel is reduced from 1,500 VND/liter to the floor level of 1,000 VND/liter; Diesel oil is reduced from 1,000 VND/liter to the floor level of 500 VND/liter; Mazut, lubricants, and grease are reduced from 1,000 VND/liter to the floor level of 300 VND/liter; Kerosene maintains the tax rate of 300 VND/liter, which is the floor price in the tax rate framework.

At the same time, the deadline for applying the Resolution is agreed to be July 11, 2022, meaning "we work day and night to try to do it quickly so that in the next executive term, this can be done immediately".

The National Assembly Standing Committee also requested the Government to consider studying and amending the Decree related to the most-favored-nation import tax. At the same time,The Government will also promptly review and study issues related to value-added tax and special consumption tax on gasoline and oil. In case world gasoline and oil prices continue to develop complicatedly, increase or remain high, affecting inflation, the macro economy, people's livelihoods and economic growth, the Government will promptly study and submit to the National Assembly for consideration.

“If it is normal, we will handle it according to normal situations. If it is urgent, we will handle it according to urgent situations, with that spirit!” – The National Assembly Chairman emphasized and said that in addition to tax cuts, he also suggested that the Government study to have support policies for some subjects directly affected in case gasoline and oil prices continue to increase or remain high but still face difficulties, such as fishermen fishing offshore, transportation, the poor, and low-income people./.