Deputy Minister of Finance: follow the situation to adjust taxes and reduce gasoline prices

	Gasoline price reduction - reducing cost burden
	More solutions needed to support enterprises when costs are high
	Low quality petroleum products cause concern

Deputy Minister of Finance Vo Thanh Hung. Photo: VGP

For petrol and oil tax, green tax, facing a surge in world petrol and oil prices, affecting domestic prices, the Ministry of Finance has reported to the Government to report to the National Assembly Standing Committee. By July 6, Resolution 20/2022/UBTVQH15 on reducing green tax on petrol and oil within the framework in accordance with the provisions of the Law on Environmental Protection Tax was issued.

Resolution 20 takes effect from July 11, 2022. The Ministry of Finance has sent an official dispatch to ask the General Department of Taxation and the General Department of Customs to ensure the implementation of the Resolution.

As for import tax, according to Deputy Minister Vo Thanh Hung, we are importing petroleum products with a 0% import tax. For gasoline, the import tax in ASEAN is 8%, and outside ASEAN 20%. To remove difficulties and diversify supply, the Ministry of Finance has reported to the Government to reduce the 20% tax rate to 10%.

Reducing the impact of gasoline prices on the price level VCN - Petrol prices are tending to rise due to the impact of world gasoline prices, putting ...