Fuel import taxes, duties reduced

Fuel import taxes and duties will be reduced from next year to support petroleum enterprises which have not been able to increase prices despite global increases.

The Ministry of Finance yesterday issued a new circular guiding the implementation of preferential import duty rates applicable to some goods on the preferential import tariff list.

From January 1, 2011, fuel products will enjoy an import tax reduction of 5 per cent compared to the current rate. Petrol import duty will decrease from 17 per cent to 12 per cent; diesel oil from 10 per cent to 5 per cent; and kerosene from15 per cent to 10 per cent.

Tags: Vietnam Fuel import taxes

Posted by VBN on Dec 2 2010. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry