Nhan Dan – The Ministry of Finance (MoF) decided yesterday to raise import taxes on petrol products from the current 7% to 10%, after it cut retail petrol prices the day before.
Deputy Minister of Finance Vu Thi Mai signed Circular No. 103/2012/TT-BTC adjusting the preferential import taxes on some items under sub-heading 2710 as defined in Circular No. 94/2012/TT-BTC, dated June 8, 2012.
Accordingly, import taxes on light oils and preparations increased by 3% to 10%; while tariffs for diesel rose from 6% to 8% and the rates for fuel oils, kerosene, and jet fuel went up 2-3% to 10%.
This is the fourth time the MoF has revised petrol import taxes since the beginning of this year. The import tax on various gasoline products was previously raised by 3% on June 8.
The ministry also cut the retail prices of petrol and oil by VND300-700 per littre on June 21.