Monday , August 8 2022

Government seeks lawmakers’ approval for further gasoline environment tax cut

The government has informed the National Assembly about a proposal to cut the environment tax on gasoline by 25 percent from August to year-end to keep prices in check.

The tax, which was originally VND4,000 ($0.17) per liter before an earlier 50 percent cut, will be cut to VND1,000 if lawmakers green-light it.

It will bring the popular RON95 gasoline price down by 3.36 percent from the current VND32,760. It has risen by 41 percent this year.

The government also wants to cut the environment tax on diesel by half from the current VND1,000.

The tax cuts will reduce the government’s revenues by VND7 trillion this year, according to the Ministry of Finance.

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