Documents Awareness - Knowledge
logo
ECONOMY-SCIENTIFIC-TECHNOLOGY

Environmental tax rise on petroleum products

26 September 2018 | 11:37:00 AM

The National Assembly Standing Committee has approved environmental protection tax hike for oil and petroleum products from early next year.

Environmental protection taxes for petrol will be raised by VND1,000 to the celling level of VND4,000 per litre from the current level of VND3,000 (13 U.S. cents). 

   

Environmental protection taxes for petrol will be raised by VND1,000 to the celling level of VND4,000 per litre (Photo by Hai Nguyen)

The taxes for diesel oil will be raised by VND500 to VND2,000 per litre; meanwhile, the increase for other products will be from VND5,00-1,100 per litre.

The hike will be applied from January 1, 2019 to curb the consumer price index and maintain the country’s inflation rate at below 4% as set by the government.

The higher petroleum prices are forecasted to cause Vietnam’s CPI grow by 0.07 - 0.09% in 2019.

The National Assembly Committee for Finance and Budgetary Affairs also supported the environmental protection taxes for petroleum products, saying that the product prices are still lower than many regional countries. 

According to the National Assembly’s Deputy Chairman Phung Quoc Hien, the higher environmental tax income on petroleum products would help the state budget to increase by VND15.7 trillion (USD713.63 million).

National Assembly Chairwoman Nguyen Thi Kim Ngan said the extra funding would be spent on environmental protection activities.

Views: 32

Other news

Bamboo houses keep old skills alive

(15/10/2018 02:32:PM )

Hue to relocate homes to preserve heritage

(15/10/2018 02:24:PM )

Binh Phuoc reforestation investigation

(11/10/2018 03:32:PM )

Environment ministry announces measures to deal with scrap containers held up at ports

(04/10/2018 10:28:AM )

Measures needed to help Mekong Delta farmers cope with floods

(02/10/2018 09:52:AM )

Revolutionary base flourishes

(17/09/2018 08:52:AM )

Da Nang proud to be Vietnam’s green city of the year

(04/09/2018 10:10:AM )

Workshop discusses sustainable development of coastal ecosystem

(27/08/2018 09:58:AM )

Ministry not yet allow dumping of 2.5 million cu.m of mud into sea

(21/08/2018 09:55:AM )

VIDEO

Environmental Sustainability - we have choices

See more

ENVIRONMENT BRAND

UPCOMING EVENTS
MONRE supports and appreciates the cooperation...

VACNE, 4/12/2017) - The Ministry of Natural Resources...

See more
US Assistant Secretary of State and 10 Ambassadors...

Quang Binh provincial People's Committee on March 8th announced...

See more
Save the Dong Nai River: experts

HA NOI (VNS) — Scientist and experts have renewed their calls to the National Assembly and the Government...

See more
Some pictures of Starting Ceremony of Cycling...

(VACNE) - Afternoon of 22/07/2014, under...

See more
PHOTO GALLERY