Friday,  Jan 18, 2019,06:49 (GMT+7) 0 0
Environment tax on fuels to remain unchanged until 2020
The Saigon Times Daily
Thursday,  Aug 30, 2018,19:09 (GMT+7)

Environment tax on fuels to remain unchanged until 2020

The Saigon Times Daily

A motorbike is refilled at a gas station in HCMC. The environment tax on fuels will not be increased until 2020 - PHOTO: THANH HOA

HCMC – The environment tax on fuels will stay unchanged until 2020, as a proposal by the Ministry of Finance to raise the tax will not be included in the law and ordinance making program next year, according to the local media.

Minister of Finance Dinh Tien Dung has asked the Legislation and Tax Policy Departments to report the withdrawal of the draft law on amendments and supplements to the Environmental Protection Tax Law, which includes the proposal to hike the environment tax on fuels, from the law and ordinance making program next year.

The Ministry of Justice will later propose adjusting the program to submit it to the National Assembly (NA) Standing Committee prior to March 1, 2019.

Early this year, the Ministry of Finance suggested increasing the environment protection tax on gasoline from the current VND3,000 to the upper level of VND4,000 per liter. The ministry was also considering raising the tax by VND500 per liter of diesel oil, and by VND1,000 per kilo of heavy fuel oil and lubricants.

According to the ministry, the tax hike will help raise the State budget by VND15.7 trillion (US$675.2 million) per year amid the plunge in import duty earnings.

The Government approved the proposal and expected the new tax rate to be applicable in October. However, at an NA meeting last month, Chairwoman Nguyen Thi Kim Ngan confirmed that the NA Standing Committee would not vote for the tax hike due to widespread public concerns over a heavier tax burden.

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