Vietnam slashes import duty on diesel and jet fuels

By Bui Hong Nhung March 18, 2016 | 09:08 pm PT

Import duty on diesel and jet fuels has been lowered while the tax on gasoline remains unchanged, effective on March 18.

In response to a request from the operators of Dung Quat refinery, the ministry has reduced taxes on both diesel and jet fuels from 10 to seven percent, while the rate for gasoline remains at 20 percent.

This has narrowed the gap between import taxes on Dung Quat’s oil products and those from other members of the Association of Southeast Asian Nations (ASEAN) and Korea.

vietnam-slashes-import-duty-on-diesel-and-jet-fuels

Source: The Ministry of Finance, ASEAN– Korea Free Trade Agreement (AKFTA) and ASEAN Trade in Goods Agreement (ATIGA)