When effective, the plan is expected to contribute to 0.11 to 0.15% of the Consumer Price Index or CPI.
The current average CPI target for 2018 is at 4%. The information was announced at the press conference following the monthly cabinet meeting that took place on Monday.
According to Deputy Minister of Finance, Vu Thi Mai, the plan to raise the tax on oil and petrol has received feedback from ministries, agencies and localities and is currently awaiting verification from the Ministry of Justice. According to the plan, the environmental tax on petrol will be increased from 3,000 to 4,000 VND per litre.
