Petrol import tax drops to 0%

VGP – The Ministry of Finance (MoF) has decided to reduce petrol import taxes from the current 6% to 0% from January 14.

January 14, 2011 7:39 PM GMT+7

The MoF recently published Document 606/BTC-QLG and Circular 07/2011/BTC-TT on petrol import tax cut and raising contribution to the petrol price-stabilizing fund.

Accordingly, since January 14, import tax for petrol products has been reduced from 6% to 0%; kerosene from 6% to 2%, mazut from 5% to 2%; and diesel from 2% to 0%.

In the short term, petroleum retailers are not permitted to adjusting petrol prices in line with Circular 234/2009/TT-BTC released by the MoF./.

By Hương Giang