Import taxes cut for petrol

The import tax for gasoline was reduced to 12 percent from 17 per cent, Deputy Finance Minister Tran Van Hieu decided on December 1.

The import taxes for diesel and kerosene were also cut a half, from the current rate of 10 percent to 5 per cent.

Some fuel traders including state-owned giant Petrolimex earlier asked the Ministry of Finance to cut the taxes.

They said the import taxes for gasoline at 17 per cent and for diesel and kerosene at 10 per cent were high and had not been changed since April. This means they are incurring losses due to high world oil prices.

Tags: Vietnam petrol, Vietnam Petrol prices

Posted by VBN on Dec 3 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