Reduce import duties on petrol at 0-3%
(InfoTV) - Ministry of Finance issued Circular reduce tax rates for certain imported petroleum products down to 0-3%, Instead of 4-5% as before, with effect from 21/2.
Accordingly, of RON 97 petrol engines and higher, leaded; RON 97 and above, unleaded; RON 90 and above, but less than 97 RON leaded; RON 90 and above, but less than RON 97 unleaded ... the pressure is 0% tax rate, instead of 4% as before.
Diesel fuel for cars and other diesel fuel tax rate is 3%. Before that tax applies to imported goods is 5%.
The tax reduction to help businesses of any petroleum business hub reduction difficult, when alone in the first half of February / 2012, prices of petroleum products in Singapore, the main import market of Vietnam increased from 0.89 to 5.18%, compared to last month. Specifically, gasoline RON 92 is the average price is $ 125.94 / barrel, while last month, the price at only $ 119.74 / barrel. This makes the petroleum business enterprises are Losing about 1,000 dong per liter of gasoline sold in the market.
Earlier on 12.28.2011, the Ministry of Finance to increase import duty import duty for light oil products and preparations, leaded petrol engines of high grade, high grade unleaded , aviation gasoline, motor fuel used for aviation turbine (jet fuel) having a flash point of 23 degrees C or higher .... 4% tax rate, instead of the earlier application is 0%.
Other products such as oil and grease, lubricating oil for aircraft engines, oil and other lubricating oils used in hydraulic brake (brake fluid) to keep the tax rate is from 3-15%.