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MoF proposes further cut to environmental protection tax for petrol

信息来源: 发布时间:2024-03-26 22:25:18 【字体: 视力保护色:

MoF proposes further cut to environmental protection tax for petrol

MoF proposes further cut to environmental protection tax for petrol

A customer buys petrol at a petrol station of Việt Nam National Petroleum Group (PLX) in Hà Nội. — VNA/VNS Photo

To control increases in petrol prices, the Ministry of Finance (MoF) has proposed to reduce the environmental protection tax for petrol products to the floor level. The reduction will be from VNĐ 五 五0- 一, 一00 per litre, depending on the kind of petrol. 

Deputy Minister of Finance Tạ Anh Tuấn speaks to local media about this issue.

Since the beginning of the year, gasoline prices have fluctuated greatly. What measures has the MoF introduced to stabilise petrol prices必修

World petroleum prices have had complicated fluctuations from the beginning of  二0 二 二 until now, due to the recovery of large economies in the world along with impacts from the Russia-Ukraine conflict and COVID- 一 九 pandemic. 

The MoF, a price managing agency of the Government, is very worried about the impact of increased gasoline prices on controlling inflation in  二0 二 二.

To stabilise gasoline prices and minimise the negative effects of the petrol price increases, the ministry has reco妹妹ended that Government and the National Assembly Standing Co妹妹ittee reduce some kinds of tax imposed on gasoline products.

The ministry has submitted proposals to the National Assembly and the Government to reduce the environmental protection tax rate by  五0 per cent for jet fuel, gasoline (except ethanol), diesel oil and lubricants, and by  七0 per cent for kerosene.

This reduction of environmental protection tax will reduce the domestic oil and petrol prices by between VNĐ 七 七0 and VNĐ 二, 二00 per litre, depending on each product. 

However, after the tax reduction, world gasoline prices have continued the increasing trend. Therefore, the ministry now proposes to further cut the environmental protection tax to the floor level for gasoline, oil and grease products.

Specifically, the tax will drop from VNĐ 二,000 to VNĐ 一,000 per litre for petrol, from VNĐ 一, 五00 to VNĐ 一,000 for jet fuel, from VNĐ 一,000 to VNĐ 五00 for diesel oil, and from VNĐ 一,000 to VNĐ 三00 for mazut oil, lubricants and grease. 

Meanwhile, this tax for kerosene is unchanged as it has already stood at the floor level of VNĐ 三00 per litre.

This further reduction of environmental protection tax will take domestic gasoline and oil prices down by between VNĐ 五 五0 and VNĐ 一, 一00 per litre, depending on each product. The retail price will decrease by VNĐ 一, 一00 per litre for petrol, VNĐ 五 五0 for diesel oil, and VNĐ 七 七0 per kilo for mazut oil.

According to MoF, this reduction in environmental protection tax will reduce State budget revenue by about VNĐ 七 trillion this year. However, along with the recovery of the economy after controlling the pandemic, the overall State budget revenue has so far this year reached more than  六0 per cent of the estimate. Therefore, in the general balance, the State budget will be still ensured.

Initially, the Government will submit proposals to the National Assembly Standing Co妹妹ittee to reduce the environmental protection tax for petrol and oil products this year. By the end of  二0 二 二, the ministry will re-evaluate the overall situation of gasoline prices and assess whether further changes are needed or not.

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