Deputy Prime Minister Le Minh Khai asked the Ministry of Finance to coordinate with relevant ministries and agencies to immediately implement Resolution No. 20/2022 on the environmental protection tax on gasoline, oil and grease, the Government Office has announced.
The Ministry of Finance was assigned to liaise with concerned ministries and agencies to study amendments and supplements to the Decree on the Export Tariff and Most Favored Nation (MFN) tariff to reduce MFN tariff on gasoline products appropriately in order to diversify supply for the domestic market. In addition, the Deputy PM required the study of value-added tax and special consumption tax on gasoline and oil products to submit to the National Assembly for consideration and appropriate decision while keeping an eye on gasoline and oil prices in the world.
The Deputy Prime Minister requested the ministries of Agriculture and Rural Development, Labor, Invalids and Social Affairs, Finance, Industry and Trade, Transport, and the State Bank to study according to their assigned functions and tasks to be able to supplement support policies for those who are directly affected and face many difficulties due to high gasoline and oil prices such as fishermen, the transport industry, the poor, low-income people…
Last but not least, the Ministry of Industry and Trade in coordination with the Ministry of Finance and relevant agencies continues to review other factors constituting the base price of gasoline and oil prices according to resolutions of the National Assembly and resolutions on questioning and answering questions at the 15th-tenure National Assembly (NA)’s third session in order to have more room to reduce domestic gasoline and oil prices in management.
Previously, the National Assembly Standing Committee voted and unanimously issued a Resolution on environmental protection tax rates for gasoline, oil and grease as proposed by the Government. The resolution is applicable from July 11 to December 31, 2022.
