Resource taxes discussed at 43rd NA Standing Committee session

According to Minister of Finance Dinh Tien Dung, resource tax revenue reached 1.7 billion USD in 2014, comprising 4.4% of total state budget revenue. However, the effectiveness of existing rates on environmental protection and resource management is still limited. Therefore, the government is proposing to increase tax rates on metal resources from 2 to 5%; on non-metals from 2 to 6%; and on clean water from 5 to 8% in a bid to encourage responsible and efficient use of resources. If the Decision is passed, resource revenue will increase by 133,000 USD by 2017./.