Vietnam to Reduce Environmental Protection Tax on Gasoline, Oil and Grease | National

Deputy Prime Minister Le Minh Khai instructed the Ministry of Finance to coordinate with relevant ministries and agencies to immediately implement Resolution No. 20/2022 on environmental protection tax on gasoline, l oil and grease, the government office said.

The Ministry of Finance has been instructed to liaise with relevant ministries and agencies to consider amendments and supplements to the Export Tariff and Most Favored Nation (MFN) Tariff Order to reduce the tariff MFN on petroleum products appropriately to diversify domestic market supply. . In addition, the Deputy Prime Minister demanded that the study of the value added tax and the special consumption tax on gasoline and petroleum products be submitted to the National Assembly for consideration and appropriate decision while keeping an eye on gasoline and oil prices around the world.

The Deputy Prime Minister asked the Ministries of Agriculture and Rural Development, Labour, Invalids and Social Affairs, Finance, Industry and Commerce, Transport and the State Bank to study according to their assigned functions and tasks to be able to complete support policies for those who are directly affected and face many difficulties due to high gasoline and oil prices such as fishermen, transport industry , the poor, low-income people…

Last but not least, the Ministry of Industry and Trade, in coordination with the Ministry of Finance and relevant agencies, continues to review other factors that constitute the base price of gasoline and oil prices in accordance with the resolutions of the National Assembly and to the resolutions on the questioning and answering of questions in the third session of the National Assembly (NA) of the 15th term in order to have more room for maneuver to reduce the domestic prices of the gasoline and oil in management.

Previously, the Standing Committee of the National Assembly unanimously voted and released a resolution on environmental protection tax rates for gasoline, oil and grease, as proposed by the government. The resolution is applicable from July 11 to December 31, 2022.

By Phan Thao – Translated by Anh Quan

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