Environment Tax to Levy on Fossil Fuel Products
Since January 1, 2012, environmental tax will be levied on fossil fuel products, according to Government’s Decree 67/2011/NĐ-CP.
The decree and the Environment Tax Law will come into effect at the same time.
The Environment Tax Law defines petroleum products, coal, HCFC solutions, plastic bag, herbicide, termite pesticide, forest products preservatives, and warehouse antiseptics to be eligible for environmental tax.
Meanwhile, the Decree states that petroleum products originating from fossil fuels will be subjected to environmental tax.
Regarding HCFC solutions, gas-basedsolvents in cooling equipments and semi-conducting industries will be imposed environment tax.
Environmental tax also covers plastic bags made from HDPE, LDPE or LLDPE.
Under the Decree, the amount of tax will be calculated each time of importing.
The Decree also stipulates that coal consumed domestically is subjected to tax payment. Meanwhile, coal exports are exempted from environmental tax.
VGP
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