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- THE LATEST RESOLUTION REDUCES THE ENVIRONMENTAL PROTECTION TAX ON GASOLINE, OIL AND GREASE TO THE FLOOR LEVEL FROM 11/07/2022.
On the morning of July 6, at the National Assembly House, under the chairmanship of National Assembly Chairman Vuong Dinh Hue, the National Assembly Standing Committee held an extraordinary session to consider and approve a Resolution on the environmental protection tax rate for the environment. with gasoline, oil and grease with 100% members of the Standing Committee of the National Assembly voting in favor.
On the morning of July 6 at the National Assembly House, under the chairmanship of National Assembly Chairman Vuong Dinh Hue, the National Assembly Standing Committee held an extraordinary session to consider the Resolution on reducing environmental protection tax on gasoline and oil. , grease to floor levelResolution of the Standing Committee of the National Assembly needs to take effect as soon as possible
At the meeting, the National Assembly Standing Committee heard Minister of Finance Ho Duc Phuc present the Government’s report and Chairman of the National Assembly’s Finance and Budget Committee Nguyen Phu Cuong presented the inspection report on the Project Resolution of the National Assembly Standing Committee on environmental protection tax rates for gasoline, oil and grease.
Accordingly, the Government submitted to the National Assembly Standing Committee to adjust the environmental protection tax rate for gasoline, oil and grease to the floor level in the tax bracket until the end of December 31, 2022 as follows: Gasoline: Reduced from 2,000 VND/liter to the floor level of 1,000 VND/liter; Flight fuel: Reduced from 1,500 VND/liter to the floor level of 1,000 VND/liter; Diesel: Reduced from 1,000 VND/liter to the floor level of 500 VND/liter; Fuel oil, lubricant: Reduce from 1,000 VND/liter to 300 VND/liter floor; Grease: Reduce from 1,000 VND/kg to the floor level of 300 VND/kg; Kerosene: Keep at 300 VND/liter because this is the floor in the tax bracket. From January 1, 2023, the environmental protection tax rate for gasoline, oil and grease will continue to comply with Resolution No. 579/2018/UBTVQH14 of the National Assembly Standing Committee.
Speaking at the meeting, agreeing with the Government’s Report and the Verification Report of the Finance and Budget Committee of the National Assembly, Chairman of the Law Committee Hoang Thanh Tung said that continuing to submit to the Standing Committee The National Assembly considers to adjust the environmental protection tax rate to the floor level in the environmental protection tax bracket according to the Law on Environmental Protection Tax. domestic oil in the context of fluctuations in world gasoline and oil prices, contributing to the implementation of the program for socio-economic recovery and development as well as solving difficulties for people’s lives and businesses. However, the Chairman of the Law Committee also said that it would be better if this content was submitted for consideration and decision earlier. The Chairman of the Legal Committee said,
Agreeing with the reductions proposed by the Government, because this is a framework within the competence of the National Assembly Standing Committee, it cannot be further reduced, Chairman of the Law Committee Hoang Thanh Tung also suggested that there be more reductions. evaluate the impact of the reduction of environmental protection tax on the reduction of gasoline prices in practice. Because the proportion of tax in gasoline prices compared to other countries is low. Therefore, the impact of tax reduction may not have a large impact on price reduction. In addition, the impact on the state budget should also be considered.
Regarding the effectiveness of the Resolution, the Chairman of the Law Committee said that this Resolution will take effect as soon as possible so that he can immediately support and remove difficulties for businesses and people. However, it also depends on the management of the Government. Therefore, the Chairman of the Legal Committee suggested that if the next petrol and oil price management period is earlier than July 15, the effective milestone of the Resolution can be taken from the next operating period; if the Government’s price management period is after July 15, the effective date of the Resolution is from July 15.
Sharing the same view that this Resolution should take effect soon, the Secretary General of the National Assembly, Chairman of the National Assembly Office Bui Van Cuong affirmed that it is necessary to reduce gasoline and oil taxes to contribute to the reduction in prices. gasoline, oil, support for people and businesses and said that in order to ensure timely, the Resolution should take effect from July 10, 2022.
According to the National Assembly
On the morning of July 6, at the National Assembly House, under the chairmanship of National Assembly Chairman Vuong Dinh Hue, the National Assembly Standing Committee held an extraordinary session to consider and approve a Resolution on the environmental protection tax rate for the environment. with gasoline, oil and grease with 100% members of the Standing Committee of the National Assembly voting in favor.
Resolution of the Standing Committee of the National Assembly needs to take effect as soon as possible
At the meeting, the National Assembly Standing Committee heard Minister of Finance Ho Duc Phuc present the Government’s report and Chairman of the National Assembly’s Finance and Budget Committee Nguyen Phu Cuong presented the inspection report on the Project Resolution of the National Assembly Standing Committee on environmental protection tax rates for gasoline, oil and grease.
Accordingly, the Government submitted to the National Assembly Standing Committee to adjust the environmental protection tax rate for gasoline, oil and grease to the floor level in the tax bracket until the end of December 31, 2022 as follows: Gasoline: Reduced from 2,000 VND/liter to the floor level of 1,000 VND/liter; Flight fuel: Reduced from 1,500 VND/liter to the floor level of 1,000 VND/liter; Diesel: Reduced from 1,000 VND/liter to the floor level of 500 VND/liter; Fuel oil, lubricant: Reduce from 1,000 VND/liter to 300 VND/liter floor; Grease: Reduce from 1,000 VND/kg to the floor level of 300 VND/kg; Kerosene: Keep at 300 VND/liter because this is the floor in the tax bracket. From January 1, 2023, the environmental protection tax rate for gasoline, oil and grease will continue to comply with Resolution No. 579/2018/UBTVQH14 of the National Assembly Standing Committee.
Speaking at the meeting, agreeing with the Government’s Report and the Verification Report of the Finance and Budget Committee of the National Assembly, Chairman of the Law Committee Hoang Thanh Tung said that continuing to submit to the Standing Committee The National Assembly considers to adjust the environmental protection tax rate to the floor level in the environmental protection tax bracket according to the Law on Environmental Protection Tax. domestic oil in the context of fluctuations in world gasoline and oil prices, contributing to the implementation of the program for socio-economic recovery and development as well as solving difficulties for people’s lives and businesses. However, the Chairman of the Law Committee also said that it would be better if this content was submitted for consideration and decision earlier. The Chairman of the Legal Committee said,
Agreeing with the reductions proposed by the Government, because this is a framework within the competence of the National Assembly Standing Committee, it cannot be further reduced, Chairman of the Law Committee Hoang Thanh Tung also suggested that there be more reductions. evaluate the impact of the reduction of environmental protection tax on the reduction of gasoline prices in practice. Because the proportion of tax in gasoline prices compared to other countries is low. Therefore, the impact of tax reduction may not have a large impact on price reduction. In addition, the impact on the state budget should also be considered.
Regarding the effectiveness of the Resolution, the Chairman of the Law Committee said that this Resolution will take effect as soon as possible so that he can immediately support and remove difficulties for businesses and people. However, it also depends on the management of the Government. Therefore, the Chairman of the Legal Committee suggested that if the next petrol and oil price management period is earlier than July 15, the effective milestone of the Resolution can be taken from the next operating period; if the Government’s price management period is after July 15, the effective date of the Resolution is from July 15.
Sharing the same view that this Resolution should take effect soon, the Secretary General of the National Assembly, Chairman of the National Assembly Office Bui Van Cuong affirmed that it is necessary to reduce gasoline and oil taxes to contribute to the reduction in prices. gasoline, oil, support for people and businesses and think that in order to ensure timely, the Resolution should take effect from July 11, 2022.
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