The Ministry of Finance (MoF) has just announced the reduction of the gasoline import tax to 5.62% while increasing the standard cost of the gasoline base price by 30 VND per litre.
A customer buys gasoline at a station of Petrolimex. (Photo: VNA)
Hanoi (VNS/VNA) - The Ministry of Finance (MoF) has justannounced the reduction of the gasoline import tax to 5.62% while increasingthe standard cost of the gasoline base price by 30 VND per litre.
These changes were mentioned in a document regarding theaverage import tax applied in the formula for calculating the gasoline baseprice sent to the Ministry of Industry and Trade (MoIT).
The MoF said that the average import tax rate for gasolineproducts has been lowered to 5.62%, while the average import tax on diesel andmazut oil is down to 0.58% and 1.38%, respectively. No adjustment was made toparaffin.
The cuts are based on the proportion of gasoline, diesel,paraffin, and mazut oil imported by petroleum traders in the second quarter of2023.
Previously, the import tax on gasoline was 10%. The cuts willsupport a reduction in gasoline prices in the near future.
From the fourth quarter of 2022 to the end of the second quarterof this year, enterprises did not import paraffin products, according to theministry.
Due to the low sales of paraffin, the MoF asked the MoIT to reviewand calculate the paraffin price on the market and to announce the baseprice according to regulations.
Some of the standard costs in the gasoline base price have beenchanged. Specifically, business expenses in the base price of mazut oildecreased by 184 VND to 360 VND per kg, while unleaded gasoline and diesel oilincreased by 30 VND each to 1,080 VND and 1,030 VND per litre, respectively./.
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A customer buys gasoline at a station of Petrolimex. (Photo: VNA) 
