Vietnamese Ministries Voice Support for Resolution Lowering Excise Tax, VAT on Oil
Most ministries in Vietnam have agreed in principle to reduce the excise tax on gasoline and value-added tax on gasoline and oil given the surge in global gas prices, the state-run CustomsNews reported Oct. 11. The Ministry of Finance consulted…
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with ministries and local governments on the National Assembly's draft resolution to lower the excise taxes and VAT and reported that all respondents agreed with the resolution's "purpose and views." The ministry said it was necessary to make the tax reduction if the price of petrol and oil continued to fluctuate. Ten ministries and ministerial level-agencies, 18 localities and four associations and individuals reported their support for the resolution, CustomsNews said.