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: 239

Other news

PM calls for drastic measures to control and reduce plastic waste

(11/06/2019 11:49:AM )

Hoi An expands plastic waste mitigation programme

(04/06/2019 07:55:AM )

MARD gathers ideas for timber regulations

(02/06/2019 07:56:AM )

First floating solar power’s inverter station generates electricity

(29/05/2019 10:09:AM )

Central Highlands works toward sustainable forest development

(27/05/2019 08:22:AM )

La Nga mass fish death under investigation

(21/05/2019 02:15:PM )

Hundreds of households to be relocated from flood-prone areas

(06/05/2019 09:39:AM )

Germany funds forest biodiversity project in Thua Thien-Hue

(03/05/2019 08:47:AM )

Mekong Delta attempts to combat saltwater intrusion

(29/04/2019 07:47: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