Allocating revenue from the Environmental Protection Tax for oil and gasoline

The Ministry of Finance issued Circular No.326/2016/TT-BTC guiding on the implementation the State budget Estimate in 2017. Photo: Hong Van

According to the General Department of Taxation, the Ministry of Finance issued Circular No. 326/2016/TT-BTC dated December 23, 2016 guiding on the implementation of the State budget Estimate in 2017, in particular the contents are:

“Implementing the allocation of revenue from Environmental Protection Tax for oil and gasoline products between the central budget and local budgets under the provisions of the State budget Law based on the volume of oil and gasoline domestically manufactured and sold in the planned period, compared to the volume of planned oil and gasoline sold by leading enterprises. The percentage of volume of oil and gasoline domestically manufactured and sold in the country in 2017 compared to the volume of oil and gasoline consumed in the market in 2017 is 37.2%; the allocation between the revenues of the central budget and local budgets is implemented in accordance with the regulation rate decided by the National Assembly; the percentage of imported oil and gasoline in 2017 compared to the total volume of oil and gasoline consumed in the market in 2017 is 62.8% and 100% of revenues are submitted to the Central budget”.

Based on the above guidance, the General Department of Taxation requests Tax Departments to collaborate with the State Treasury of the provinces and centrally run cities to account for allocation of the revenue from Environmental Protection Tax for oil and gasoline in 2017 between the central budget and local budgets in accordance with regulations.