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Policy digest March, 2015

Policy digest March, 2015

 Environmental protection tax on petrol, oil to triple
The National Assembly Standing Committee on March 3 voted on the Government’s proposal to triple the current environmental protection tax rates on petrol and various petroleum products, except kerosene.
The Minister of Finance said retail prices of petrol in Vietnam were lower than Laos, Cambodia and China, between VND 5,000-6,000 per liter and this had ignited petrol smuggling through Vietnamese border to these countries.
In addition, Vietnam must implement its international commitments to cut import tariffs. The fallen global and domestic oil prices since the beginning of this year have also resulted in a considerable decrease in state budget revenues.

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