BORNews -Vietnam's finance ministry on Thursday said it was seeking government approval to lower environment tax on fuel by half instead of the 25% cut it proposed last week, amid soaring energy prices.
Accordingly, environment tax on gasoline, and on diesel fuel and lubricants would be cut by half to 2,000 dong ($0.09) per liter and 1,000 dong per liter respectively if the government passes the proposal.
Vietnam's finance ministry on Thursday said it was
seeking government approval to lower environment tax on fuel by half instead of
the 25% cut it proposed last week, amid soaring energy prices.
Accordingly, environment tax on gasoline, and on diesel fuel and
lubricants would be cut by half to 2,000 dong ($0.09) per liter and 1,000 dong
per liter respectively if the government passes the proposal.
Tax on kerosene would be reduced to 700 dong per liter from the current
1,000 dong.
The deeper proposed cut was based on complications with global energy
prices and was suggested by the industry ministry, the finance ministry said in
a statement.
Tax collection would be reduced by 29 trillion dong ($1.27 billion) if
the new tax rates are in place from April to year end, the statement added.
Vietnam aimed to keep inflation below 4% for 2022. The country raised
its RON92 gasoline price by 2.1% to a record high 26,071 dong ($1.14) per liter last Tuesday.
($1 = 22,840.50dong)
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