The plan was announced Thursday by a ministry official without disclosing further details.

Currently special consumption tax is at 8-10 percent and value-added tax is at 10 percent.

A customer pays for gasoline at a fuel station in Hanoi in March 2022.

Gasoline prices rose to an all-time high of VND32,870 ($1.41) per liter last Tuesday.

Prices have surged by 65-70 percent since the end of 2021, burdening both consumers and businesses.

Earlier this month, the ministry had considered halving the environment tax on fuel, but critics said a cut of VND500-1,000 is too little to have an effect and called for reduction in other taxes.

Taxes and fees account for 35 percent of gasoline prices.

Enterprises recover, well implement tax policy

(BGO)- Covid-19 pandemic outbreak in Bac Giang province in the middle last year adversely impacted operation of almost companies. However, thanks to the great efforts to overcome difficulties, several enterprises have recovered their production and business with dramatically increased turnovers and made positive contribution to the state budget.

6 out of 16 tax revenues in Bac Giang surpass from 5 to 37 percent against the same period

(BGO)- According to the Taxation Department of Bac Giang province, the total domestic tax revenue in Bac Giang province in the first 5 months this year is estimated at 6.619 trillion VND (285 million USD), up 6 percent against the same period last year and equal to 53 percent of the yearly tax estimate.

Vietnam approves tax system reform strategy until 2030

Deputy Prime Minister Le Minh Khai has signed a decision on approving the tax system reform strategy until 2030 with the goal of streamlining tax management and expanding the tax base.

Q1 personal income tax collection up 20 percent

First quarter personal income tax collection grew 20 percent year-on-year to VND50.7 trillion ($2.22 billion), achieving 43 percent of the year’s target, the General Department of Taxation says.

Environment tax reduction on fuels to come into life from April 1

Environmental protection tax rates on fuels will be reduced from April 1 under the National Assembly (NA) Standing Committee’s resolution recently signed off by NA Chairman Vuong Dinh Hue.

Source: VnExpress