The Central Institute of Economic Management

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  • 12 Mar 2019 12:00 AM
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Experts Propose Higher Fuel Tax in Vietnam

Researchers of the Central Institute of Economic Management (CIEM) have proposed the Government levy special consumption tax rate for bio-fuel equal to half of the rate for gasoline. The recommendation was part of a CIEM survey, which was announced at the seminar on using tax policies to regulate the economy towards green growth and sustainable development held in Hà Nội yesterday. Head of the CIEM’s Social Affairs Department Nguyễn Mạnh Hải said the hike of special consumption tax rate for bio-fuel would create a significant difference in the selling price between bio-petrol and petrol, encouraging people to use the bio-fuel to protect the environment. "It’s also needed to maintain and increase the special consumption tax on cars and fossil fuels to limit the consumption of these products in Việt Nam," Hải said. Secretary of the Prime Minister’s economic advisory team Đặng Thị Thu Hoài proposed increasing the tax rate on products or waste damaging the environment such as chemical fertilisers and emissions.

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