The Ministry of Finance proposed to apply a reduction in environmental protection tax on gasoline as prescribed in Resolution No. 30/2022 of the National Assembly Standing Committee.
Resolution 30 on reducing environmental tax on gasoline, oil, and grease is currently effective until December 31, 2023.
Accordingly, the environmental protection tax rate for gasoline (except ethanol) is 2,000 VND/liter; jet fuel, diesel, fuel oil, and lubricants is 1,000 VND/liter; grease is 1,000 VND/kg; kerosene: 600 VND/liter.
To ensure continuity and timeliness, the Ministry of Finance proposes that the resolution take effect from January 1, 2024.
From January 1, 2025, the environmental protection tax rate on gasoline, oil, and grease will return to implementation according to Resolution No. 579/2018 of the National Assembly Standing Committee.
Specifically, the environmental protection tax on gasoline (except ethanol) is 4,000 VND/liter; jet fuel is 3,000 VND/liter; diesel, fuel oil, and lubricants are 2,000 VND/liter; kerosene is 1,000 VND/liter; and grease is 2,000 VND/kg.
According to the Ministry of Finance, gasoline is an essential commodity and an input for many manufacturing industries, affecting many subjects in the economy .
Therefore, reducing environmental protection tax on gasoline, oil, and grease regardless of the subject of application has supported the economy, people, and businesses.
The Ministry of Finance calculates that with the consumption of gasoline, oil, and lubricants in 2024 being equivalent to 2023 and with the proposed environmental protection tax rate, environmental protection tax revenue will decrease by about VND38,929 billion. Total state budget revenue (including the reduction in value added tax) will decrease by about VND42,822 billion.
Despite the impact of reducing budget revenue, the issuance of policies to reduce environmental protection tax on gasoline, oil, and grease brings many benefits, actively supporting people's lives and business production activities of enterprises.
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