The National Assembly Standing Committee has not approved the Ministry of Finance’s proposal to almost triple the environmental protection tax on oil and gas consumption, citing potential harm to consumers.
The Viet Nam Petroleum Association (VINPA) has sent a document to the Ministry of Finance (MoF) in support of the ministry’s proposal to increase the environmental protection tax on oil and gas consumption.
The Finance Ministry (MoF)’s proposal to almost triple the environmental protection tax on oil and gas consumption would reduce businesses’ competitiveness against foreign firms, according to the Viet Nam Chamber of Commerce and Industry (VCCI).
Lao Dong (Labour) and Tin Tuc (News) newspapers discussed the issue with Vu Khac Liem, deputy director of the ministry’s Tax Policies Department and Truong Minh Hoang, vice chair of the NA Committee for Science, Technology and Environment.
The Ministry of Finance has proposed, in a draft law, to almost triple the environmental protection tax on oil and gas consumption from the current VND3,000 (US$0.13) to VND8,000 per litre.