The National Assembly continues to reduce 50% of environmental protection tax on gasoline, oil, and grease from January 1 to December 31. It is expected that Ha Tinh will reduce the state budget revenue by about 660 billion VND.
The Ha Tinh Provincial Tax Department has just issued Official Dispatch No. 36/CTHTI-TTHT to taxpayers in the province regarding the implementation of Resolution No. 42/2023/UBTVQH15 dated December 18, 2023 of the National Assembly Standing Committee. Accordingly, the environmental protection tax rate on gasoline, oil, and grease is reduced by 50% compared to Resolution No. 579/2018/UBTVQH14 dated September 26, 2018 of the National Assembly Standing Committee on the environmental protection tax schedule.
Specifically, gasoline (excluding ethanol) decreased by VND2,000/liter (tax rate before reduction was VND4,000/liter); jet fuel decreased by VND2,000/liter (tax rate before reduction was VND3,000/liter); diesel oil, fuel oil, lubricants, and grease decreased by VND1,000/liter (tax rate before reduction was VND2,000/liter); kerosene decreased by VND400/liter (tax rate before reduction was VND1,000/liter).
Environmental protection tax rates for gasoline, oil, and grease before and after reduction
The environmental protection tax rate for gasoline, oil, and grease mentioned above will apply from January 1, 2024 to December 31, 2024. From January 1, 2025, the environmental protection tax rate for gasoline, oil, and grease will be implemented according to Resolution 579/2018/UBTVQH14 dated September 26, 2018 of the National Assembly Standing Committee on environmental protection tax schedule.
People benefit directly when environmental protection tax on gasoline, oil, and grease is reduced.
It is known that in 2023, the National Assembly will also reduce 50% of environmental protection tax on gasoline, oil, and grease according to Resolution No. 30/2022/UBTVQH15 dated December 30, 2022. Accordingly, Ha Tinh will reduce the State budget revenue by more than VND 590 billion compared to the time of applying Resolution No. 579/2018/UBTVQH14 dated September 26, 2018 on the environmental protection tax schedule.
It is expected that in 2024, Ha Tinh will reduce the State budget revenue by about 660 billion VND due to the application of the policy of reducing 50% of environmental protection tax on gasoline, oil, and grease according to Resolution No. 42/2023/UBTVQH15.
Phan Tram
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