Environmental tax policy may be adjusted
A litre of gasoline is carrying VNĐ4,000 of environmental protection tax — Photo laodong.vn
The Tax Policy Department and the General Department of Taxation has been assigned to prepare, research, and develop a plan to adjust tax policies for environmental protection for petroleum products and promptly report to the Prime Minister before February 28.
It was essential to carefully consider and evaluate the impact of this policy because in the VNĐ350 trillion support package for the socio-economic recovery and development programme, there was a tax reduction policy of up to VNĐ64 trillion, Minister of Finance Hồ Đức Phớc told Tiền Phong (Vanguard) newspaper.
Ngô Trí Long, former deputy director of the Ministry of Finance's Price and Market Research Institute, said that currently, the taxes applied to petroleum products include import, value-added, excise, and environmental protection. Of which, imported gasoline is subject to 10 per cent import tax, a special consumption tax on gasoline at 10 per cent, an environmental protection tax for 1 litre of gas at about VNĐ4,000, and VNĐ2,000 for 1 litre of oil.
The domestic petrol price depends entirely on the world petrol price. When the world gasoline price increases, domestic prices will also increase. The petrol price of a country depended on each country's world price and tax policy, he noted.
In the Government's socio-economic recovery and development programme, the National Assembly has recently calculated a tax reduction package.
The Ministry of Finance said that the State budget was facing difficulties, so if it continued to reduce taxes, it would burden the budget.
In the programme, the National Assembly has closed the reduction of value-added tax of 2 per cent on some items, except for items subject to special consumption tax, including gasoline, because this item is not encouraged to be consumed as it affects the environment.
"Then only the environmental protection tax remains. Personally, I think the environmental protection tax is currently high. A litre of gasoline carries VNĐ4,000. Should this tax rate be reconsidered,?" Long said. — VNS
Related News
![Imposing and raising special consumption tax contributing to change consumption behavior](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/16/16/croped/102024071118384120240716164142.jpg?240717100543)
Imposing and raising special consumption tax contributing to change consumption behavior
10:05 | 17/07/2024 Finance
![Adding goods item subjected to special consumption tax](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/02/14/croped/122024062816154320240702145740.jpg?240707093420)
Adding goods item subjected to special consumption tax
09:34 | 07/07/2024 Finance
![The auto industry does not shrink from many challenges](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/052024/28/15/croped/img-72772024052415114920240528150812.jpg?240529094315)
The auto industry does not shrink from many challenges
09:43 | 29/05/2024 Import-Export
![Personal Income Tax Law to be amended in 2025](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/042024/03/10/croped/tr-ba-tuan2024032920313420240403100044.jpg?240404104232)
Personal Income Tax Law to be amended in 2025
10:42 | 04/04/2024 Finance
Latest News
![Perfecting the legal framework to promote upgrading the stock market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/22/croped/132024072310541020240725221344.jpg?240726081814)
Perfecting the legal framework to promote upgrading the stock market
08:18 | 26/07/2024 Finance
![Margin loan continues hit new record](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/fiin2024072315213620240724145347.jpg?240725092004)
Margin loan continues hit new record
09:20 | 25/07/2024 Finance
![Vietnam needs comprehensive regulatory framework to attract green financing](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/green-finance-566620240724141129.5511800.jpg?240724021157)
Vietnam needs comprehensive regulatory framework to attract green financing
14:11 | 24/07/2024 Finance
![2025 budget estimation must be practical, accurate and efficient](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/13/croped/z5648711762772-4c57b15495cfcb197f8723d749fe4aa52024071917513120240723135923.jpg?240723023829)
2025 budget estimation must be practical, accurate and efficient
14:38 | 23/07/2024 Finance
More News
![The corporate bond market will be more vibrant in the second half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/22/15/croped/112024071818564620240722155216.jpg?240723082100)
The corporate bond market will be more vibrant in the second half of the year
08:20 | 23/07/2024 Finance
![Prioritize resources and promptly supplement capital for policy credit](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/17/14/nhcsxh-quang-ninh-1202407022251172024071616173420240717141834.jpg?rt=20240717141837?240722100700)
Prioritize resources and promptly supplement capital for policy credit
10:06 | 22/07/2024 Finance
![Measures suggested to boost startups’ access to capital](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/21/19/croped/measures-suggested-to-boost-startups-access-to-capital-56220240721193808.3646770.jpg?240721073852)
Measures suggested to boost startups’ access to capital
19:38 | 21/07/2024 Finance
![Inflationary pressure seen from monetary policy](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/12024071118383020240718224146.jpg?240721094724)
Inflationary pressure seen from monetary policy
09:47 | 21/07/2024 Finance
![Banks with the problem of promoting credit growth](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/142024070515243520240718222634.jpg?240720064949)
Banks with the problem of promoting credit growth
18:49 | 20/07/2024 Finance
![Proposal to increase Special Consumption Tax on tobacco products](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/19/15/croped/z5638560592107-bb19f9b3b6635b5bb407c871b1aff5ea2024071615410820240719150329.jpg?240720095049)
Proposal to increase Special Consumption Tax on tobacco products
09:50 | 20/07/2024 Finance
![Savings of individual customers at banks hit record high](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/19/14/croped/362413-savings20240719143011.3054670.jpg?240719023032)
Savings of individual customers at banks hit record high
14:30 | 19/07/2024 Finance
![Managing fiscal policy has achieved many positive and comprehensive results](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/z5634201788386-8cf5a37a33eec7b9e4b5f8d46c60d6dc2024071509390720240718221008.jpg?240719021205)
Managing fiscal policy has achieved many positive and comprehensive results
14:12 | 19/07/2024 Finance
![Determine tools, policy for inflation control](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/5-3231-5-long2024071116215420240718223836.jpg?240719021141)
Determine tools, policy for inflation control
14:11 | 19/07/2024 Finance
Your care
![Perfecting the legal framework to promote upgrading the stock market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/22/croped/medium/132024072310541020240725221344.jpg?240726081814)
Perfecting the legal framework to promote upgrading the stock market
08:18 | 26/07/2024 Finance
![Margin loan continues hit new record](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/medium/fiin2024072315213620240724145347.jpg?240725092004)
Margin loan continues hit new record
09:20 | 25/07/2024 Finance
![Vietnam needs comprehensive regulatory framework to attract green financing](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/medium/green-finance-566620240724141129.5511800.jpg?240724021157)
Vietnam needs comprehensive regulatory framework to attract green financing
14:11 | 24/07/2024 Finance
![2025 budget estimation must be practical, accurate and efficient](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/13/croped/medium/z5648711762772-4c57b15495cfcb197f8723d749fe4aa52024071917513120240723135923.jpg?240723023829)
2025 budget estimation must be practical, accurate and efficient
14:38 | 23/07/2024 Finance
![The corporate bond market will be more vibrant in the second half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/22/15/croped/medium/112024071818564620240722155216.jpg?240723082100)
The corporate bond market will be more vibrant in the second half of the year
08:20 | 23/07/2024 Finance