Vietnam Cuts Mazut Import Tariff By 5 per cent to 25 per cent
The Vietnamese Ministry of Finance June 11 decided to slash mazut import tax to 25 per cent from current 30 per cent in line with the global oil price soar to US$72 per barrel in recent days.
The tax cut will take effect from June 12.
The move is aimed at supporting petroleum traders in Vietnam upon the world price hike, the ministry said.
This is the second mazut import tax cut within 12 days. The latest reduction decision was issued June 1 to be effective from June 5.
Recently, the Ministries of Finance and of Industry and Trade approved local petroleum wholesalers to raise retail prices of petroleum products by VND1,000 per liter.
Currently, a liter of gasoline A92 is priced at VND13,500, of A95 at VND14,000, of kerosene at VND13,000/liter and of diesel VND11,500/liter. (Vietnam Economic Times)
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