Increases in environmental protection taxes on petroleum from the beginning of next year would weigh heavily on inflation, especially as fuel prices rise worldwide, according to the Viet Nam Institute For Economic and Policy Research (VEPR).
Environmental protection taxes on petroleum products will be increased from January 1, 2019, according to a resolution issued by the National Assembly Standing Committee.
The Ministry of Finance has proposed raising environmental protection taxes on oil and petroleum products from the current VND3,000 (13 US cents) to the ceiling level of VND4,000 (17 cents) per litre beginning July 1st 2018.