Finance ministry sees wisdom of halving gasoline environment tax

An employee pumps gasoline into a car in Hanoi, March 10, 2022. Photo by VnExpress/Pham Chieu

The Ministry of Finance now wants to halve the environment tax on fuel as many others have suggested.

If the government approves the proposal, from next month the tax will be reduced from VND4,000 ($0.18) to VND2,000 per liter on gasoline and from VND2,000 to VND1,000 on diesel.

The ministry had earlier suggested a 25 percent cut while many others, including the Ministry of Industry and Trade, had demanded a 50 percent reduction as pump prices climbed to new peaks amid a global shortage caused by the Russia-Ukraine crisis.

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