top of page

The Vietnamese Government proposes to reduce 50% of environmental protection tax on gasoline

The draft resolution on reducing 50% of environmental protection tax on gasoline and oil by the end of 2022 will be submitted by the Government to the National Assembly Standing Committee on March 14.


The Finance Minister will, under the Prime Minister's authorization, sign the report and report to the Standing Committee of the National Assembly. It is expected that the standing body of the National Assembly will give opinions and approve it according to the process of one session.


According to the previous proposal of the Ministry of Finance, the environmental protection tax on gasoline and oil will be halved compared to the current one, which means a reduction of 2,000 VND per liter for gasoline. The reduction for diesel, fuel oil, and lubricants is 1,000 VND per liter, grease is 1,000 VND per kg, and kerosene is 700 VND per liter.


After being approved by competent authorities, this regulation is expected to take effect from April 1. After this tax reduction, each liter of gasoline is expected to decrease by VND 2,200 (including VAT) and the price of oil will also be adjusted by VND 1,100.


The Ministry of Finance calculates that the amount of environmental protection tax collected on gasoline, oil and grease (calculated on the basis of the consumption of gasoline, oil and grease in 2019) will decrease for the whole year by about VND 29,035 billion.



Petrol price in Vietnam is made up of the CIF price of imported finished petroleum products, and taxes, fees, and profits for businesses... But in each liter of gasoline, taxes and fees account for about 40%. , in which the environmental protection tax rate is fixed per liter of petrol and oil. Specifically, each liter of gasoline is being collected from 3,800 - 4,000 VND per liter, depending on the type; oil is 1,000-2,000 VND per liter, depending on the type.


On March 11, the domestic gasoline price had the strongest increase in history, although the Ministry of Industry and Trade - Finance spent 750-1,000 VND from the Petroleum Stabilization Fund for each liter of gasoline, 1,500 VND for each liter of oil. diesel. The retail price in the country with RON 95 gasoline has increased to nearly 30,000 VND per liter, E5 RON 92 gasoline is 28,980 VND, and diesel oil is 25,260 VND. These are the highest prices ever.


Compared with the end of December last year, each liter of RON 95 gasoline has cost more 7,020 VND; E5 RON 92 is 6,900 dong, diesel is 7,930 dong higher; kerosene increased by 7,590 dong and madut oil by 5,240 dong.


Sauce: the Internet

0 comments
bottom of page