Viet Nam mulls over excise tax exemption on all gasoline products
VGP - The Government of Viet Nam is mulling over excise tax exemption on all gasoline products through March 31, 2027.
Deputy Prime Minister Nguyen Van Thang on Tuesday tasked the Ministry of Finance to coordinate with the Ministry of Industry and Trade and Ministry of Justice to assess the impacts and feasibility of the proposal to reduce excise tax rate on all types of gasoline to zero percent from November 1, 2026 to March 31, 2027.
Based on the assessement, the Ministry of Finance must report to the competent authorities for consideration and approval of the proposal.
Last July, the Government issued a Resolution on extending tax reduction measures on gasoline and aviation fuel until September 30, three months beyond their scheduled expiry at the end of June.
The aforesaid extension would help stabilize the domestic petroleum market, strengthen energy security and support macroeconomic stability amid continued volatility in global energy markets, said the Ministry of Finance.
The Government targets to keep consumer price index (CPI) increase at around 4.5 percent this year, according to the Socio-economic development plan for 2026, which was approved by the National Assembly in November last year.
The country's CPI increased by 3.51 percent, 5.25 percent, and 4.80 percent in the first, second and third quarter, reported the National Statistics Office./.