Sign up | Log in



Home>>Daily News>>Vietnam >>Economy>>MoF mulls increasing green tax

NEWS UPDATES Asean Affairs   May 18, 2018  

MoF mulls increasing green tax

The Ministry of Finance (MoF) has proposed increasing environmental protection tax on gasoline from the current VNĐ3,000 to ceiling level of VNĐ4,000 per litre, to help raise the State budget.

In a draft resolution sent to the National Assembly Standing Committee, the ministry said if the proposal was approved, in addition to the increase tax on oil to VNĐ2,000 per litre, it’s estimated that the State budget will reach more than VNĐ55 trillion (US$2.4 billion) annually, up VND14.37 trillion, from oil and gasoline.

The ministry also asked the National Assembly for permission to raise environmental protection tax on other products such as coal, Hydrochloroflurocarbons (HCFC) and plastic bags by between VND1,000 and VND10,000 per kilo, depending on the product.

If the National Assembly approves the proposal, the total revenue from environmental protection tax is estimated to be VND57.6 trillion per year, up VND15.19 trillion.

The ministry noted that environmental protection tax on petrol and oil has been collected since 2012. The tax has increased society’s awareness towards the environment, and the need to meet the requirements of sustainable development in Viet Nam.

In terms of contribution to the State budget, the ministry said from the year 2012 to 2017, the total amount of funds collected from environmental protection tax was about VNĐ150 trillion, or VNĐ25 trillion per year on average.

In the current socio-economic context of the country, the ministry said it’s necessary to study the adjustment of environmental protection tax to the appropriate level. Petroleum retail prices in Viet Nam are lower than those of other countries in the region and Asia. Viet Nam’s petroleum retail price ranked 47th from low to high among 167 countries, less than 120 countries, at VND19,980 per litre.

Research shows that goods subject to environmental protection tax such as gasoline, oil, grease, coal and plastic bags cause adverse impacts on the environment.

According to the calculations of scientists, in order to regulate impacts on the environment, the tax on the above items must be much higher, said the ministry.

In order to develop this draft resolution, the ministry has consulted widely with the Government and other institutions. Of a total 77 opinions, 19 ideas came from ministries, 43 from localities, and five comments from other associations, enterprises and organisations. In which 47 comments completely agreed with the draft.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

  Today's  Stories                      May 15, 2018 
• Indonesia to open 8 more ports for international trade
• Paper factory’s investment certificate to be revoked Subcribe: Asean Affairs Global Magazine
• If rupiah weakening persists, it will affect economy: Moody's Subsribe Now !
• CEO Conference 2018 on the economy held in Yangon
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Ministries urged to remove 49% foreign cap
Asean Stock Watch   May 14,  2018

• Asean Stock Watch-May 14, 2018
Asean Analysis                April 9 2018
• Asean Analysis April 9, 2018
Chinese Influence Activities with U.S. Allies and Partners in Southeast Asia
Advertise Your Brand

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand