Vung Ro Refinery Enjoys Import Tax Incentives

The Government has agreed to allow the Vung Ro oil refinery project in Phu Yen province to enjoy preferential import taxes of seven percent for petrol, five percent for liquefied petroleum gas (LPG) and three percent for petrochemical products, as applied to other refineries in Vietnam. If import taxes of fuel in the coming time are lower than the above preferential rates, it is likely that the State will compensate the investor.

 

 Besides, like other refinery projects, incentives regarding the distribution of refined oil products, the tax on foreign contractors, the fee of using sea and seabed, and the tax of using freshwater and seawater resources of the Vung Ro project will be considered.