Environment » Environmental Resources

September 21, 2020, 1:56 pm

Environment fee on fuels to triple from May

(11:20:06 AM 19/03/2015)
(Tinmoitruong.vn) - The National Assembly Standing Committee on March 10 approved a trebling of the environmental protection fees on gasoline except for bio-fuel, diesel and heavy oil from May 1 as proposed by the Government.

 Environment fee on fuels to triple from May


Vehicles are seen on a road in HCMC. The National Assembly Standing Committee yesterday approved a trebling of the environmental protection fees on gasoline except for bio-fuel, diesel and heavy oil from May 1 

 

The new fees will be VND3,000 per liter of gasoline, VND1,500 per liter of diesel and VND900 per kg of heavy fuel oil, up from VND1,000, VND500 and VND300 respectively. The fee on kerosene remains unchanged at VND300 per liter.

 

Minister of Finance Dinh Tien Dung explained earlier that the environmental protection fee spike is to offset the impact of dropping oil prices and import tariff reductions as Vietnam’s commitments to trade agreements with foreign countries on the State budget collections.

 

According to the ministry, the State budget could lose some VND28.25 trillion (US$1.32 million) a year in 2015-2017 if the price of WTI crude oil is US$70-75 per barrel and annual fuel imports total 7.1 million tons like last year in the period.

 

After the adjustment, the total environmental protection fee collection is estimated at VND35.58 trillion per year, increasing by VND23.72 trillion, and the value-added tax revenue will rise by VND2.37 trillion, contributing a total of some VND26.09 trillion to the State budget this year.

 

The ministry said higher environmental protection fees will not leave much impact on retail fuel prices on the domestic market owing to lower import tariffs and declining world oil prices. The environmental fee rise is expected to prevent fuel smuggling.

 

If the world oil prices edge up, the ministry will adjust down import tariffs on fuels, which are 35% for gasoline, kerosene, and heavy fuel oil and 30% for diesel. Taxes and fees now accounted for 35- 40% of fuel prices.   

 

SGT
KHÔNG XẢ RÁC BỪA BÃI

Send comments you read about: Environment fee on fuels to triple from May

* *
*
*
(Environmental News welcomes your opinions read the article. The discussion will be reviewed before posting. Environmental News reserves the right to reject words offend individuals or organizations; words left habits and customs, law violations. Readers discuss accented Vietnamese. Comments do not necessarily reflect the views of the Environmental News. Thank you for your contributions and cooperation of)
KHÔNG XẢ RÁC BỪA BÃI
Cat- center 3
Cat- center 4
 Ash treatment required before thermal-power plant construction

Ash treatment required before thermal-power plant construction

(Tinmoitruong.vn) - The government has told investors not to build coal thermal power plants if they don’t have solutions to treat ash, thus causing pollution.

 German Government continues to support MRC for sustainable development of the Lower Mekong Basin

German Government continues to support MRC for sustainable development of the Lower Mekong Basin

(Tinmoitruong.vn) - Vientiane, Lao PDR, 29 September 2016 – The Government of Germany- has granted EUR 2.5 million to the Mekong River Commission to implement its strategic work, including climate change and adaptation, flood and drought management and sustainable hydropower.

Cat- center 6
  Decree requires waste importers to place deposits on scrap

Decree requires waste importers to place deposits on scrap

(Tinmoitruong.vn) - Importers have to make a deposit for scrap materials imported from June 15, 2015 as per government decree No 38. This will place a heavy financial burden on enterprises.

Cat- center 7