Ministry proposes environmental protection tax cut for biofuel

Ministry proposes environmental protection tax cut for biofuel

The Ministry of Industry and Trade said that it has proposed the Prime Minister to consider adjusting the environmental protection tax rate for biofuel in general and E5 RON92 ethanol gasoline blend in particular so as to create a basic and large enough difference in price between biofuel and fossil fuel that is able to convince consumers to use biofuel.
People buying petrol at a station on Nguyen Cong Tru Street in Hanoi (Photo: VNA/VNS)

Environmental tax hike rejected

The National Assembly Standing Committee has not approved the Ministry of Finance’s proposal to almost triple the environmental protection tax on oil and gas consumption, citing potential harm to consumers.