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: 2258

Other news

Agro-forestry-fishery exports target USD 73-74 billion in 2026

(24/01/2026 07:39:AM )

Dong Nai to build VND 4-trillion riverside road

(23/01/2026 04:59:AM )

Hanoi Metro carries nearly 21 million passengers last year

(17/01/2026 07:01:AM )

Dong Nai breaks ground on two bridges linking Ho Chi Minh City

(16/01/2026 08:38:AM )

Vietnam’s GDP grows 8.02 per cent in 2025, driven by services and industry

(06/01/2026 04:51:AM )

Agro-forestry-fishery exports poised to hit record high in 2025

(24/12/2025 08:09:AM )

Ho Chi Minh City extends Metro Line 2 by over 200 metres

(23/12/2025 06:39:AM )

Nearly 1.7 million residents leave Mekong Delta over past decade

(19/12/2025 08:22:AM )

Hanoi moves to turn Hoa Lac into Vietnam’s Silicon Valley

(15/12/2025 08:23:AM )

ENVIRONMENT BRAND

UPCOMING EVENTS
The project that won the First Prize in the...

(VACNE, 17/6/2025) - The topic: “Artificial Wood Production from Straw” by the group of contestants Straw Wood, from Tra Vinh University, has just won the championship of the GVB Prize Startup Competition 2025 in London (United Kingdom) on June 15, 2025.

See more
The first Green Cypress to be recognized...

(VACNE) – These are 2 green cypress trees more than 300 years old with chemical name Calocedrus macrolepis Kurz solemnly held by Ba Vi National Park Management Board to announce the decision of Vietnam Heritage Tree on the morning of February 27, 2024.

See more
Some pictures of the ceremony to recognize...

(VACNE) – N(VACNE) – Authorities, mass organizations and local communities solemnly received the Certificate of Recognition of Vietnamese Heritage Trees for two majestic Sanh trees (nearly 30 meters high, more than 200 years old) in Trieu Phu communal house, in zone 7, Hung Son town, Lam Thao district, Phu Tho province on April 22, 2023 on the occasion of Hung King's death anniversary.

See more
Media contributes to the success of the international...

(VACNE) - On March 21, 2022, the Organizing Committee of the International workshop "The Effects of Environmental Pollution on Biodiversity and Human Health" had a meeting, chaired by Dr. Nguyen Ngoc Sinh - VACNE President

See more
ADB finances climate resilience infrastructure...

The Asian Development Bank (ADB) has approved a $60 million financing package to improve the climate resilience of transport and water supply infrastructure in Vietnam’s south-central coastal provinces of Binh Dinh and Quang Nam, especially in remote upland districts with large ethnic minority communities.

See more
PHOTO GALLERY