Environmental tax hike on oil & petrol

by VTV404 April 2018 Last updated at 00:22 AM

VTV.vn - The Ministry of Finance has plans to raise environmental protection taxes on oil and petroleum products from July 1st of this year.

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.

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