Vietnam Cuts Jet Fuel Import Tariffs by 5 per cent to 20 per cent
The Vietnamese Ministry of Finance has recently decided to slash import taxes on jet fuel by 5 per cent to 20 per cent from the current 25 per cent.
The tax reduction will take effect July 26, the ministry said. The move aims to mitigate fuel costs for domestic airline firms.
Vietnam still has to import almost all petroleum products since its first oil refinery, Dung Quat, which is in the central province of Quang Ngai, has only been operational since February 22 of this year.
The US$3.1 billion refinery, which has produced diesel, kerosene, gasoline A92 and A95, and liquefied petroleum gas (LPG), will pump out jet fuel for the domestic market within the month. (Vietnam Economic Times, New Hanoi)
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