#environmental protection tax

Under the proposal, the environmental protection tax on petrol (excluding ethanol), diesel, aviation fuel, kerosene and mazut will be reduced to zero Vietnamese dong per litre. These products will also be exempt from VAT declaration and payment while still allowing input VAT credit.

The nation spent US$5 billion on importing 4.8 million m3 of petroleum during the first half of this year, an increase of 18% in volume and up nearly two fold in value compared to the same period from last year.