Under the draft, the Ministry of Finance proposes to cut the tax rates for gasoline by VND2,000 (US$0.088) per liter; diesel, fuel oil, and lubricant by VND1,000 per liter; grease by VND1,000 per kg; and kerosene by VND700 per liter.
The ministry recommended that the resolution should take effect from April 1 to December 31, 2022.
With the adjustments, the estimated amount of environmental tax on the products will reduce by over VND29 trillion ($1.26 million) per year, leading to a fall in the State budget collection.
