Analyst Pin-board: Views on Raising the Environmental Protection Tax (EPT) on Gasoline Retail Prices
On September 20th, the National Assembly Standing Committee passed a resolution which raises the environmental protection tax on fuels and takes effect from January 01 2019. Accordingly, each liter of gasoline will be subject to an environment protection tax of VND4,000, up from the current VND3,000, and kerosene to VND1,000, up from the current VND300. The tax on heavy fuel oil and lubricants moves to VND2,000 per liter, up from the current VND900. The resolution surprised us a little bit as it was delayed in July due to inflation concerns. From our point of view, inflation and overall budgetary deficit are two important dimensions explaining the government’s decision.
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