Following the proposal of the Ministry of Finance on cutting the environmental protection tax on jet fuel by 30%, the Standing Committee of National Assembly issued the Resolution No. 979/2020/UBTVQH14 on July 27th, 2020 amending and supplementing sub-section 2, Section I of the environmental protection tariff list stipulated in Clause 1, Article 1, Resolution No, 579/2018/UBTVQH14 dated September 26th, 2018.
Accordingly, the new environmental protection tariff is 2,100 VND/litre, compared with the previous 3,000 VND/litre. This tariff is applied from August 1st, 2020 to December 31st, 2020, after which it will return to 3,000 VND/litre from January 1st, 2021.
The environmental protection tariff on jet fuel is reduced to help the aviation industry remove certain difficulties due to the severe impacts of COVID-19 pandemics. The Ministry of Finance calculated that with such a reduction, the State Budget revenue would lose VND 87.33 billion (USD $3.8 million) per month.
The General Department of Customs directed all the provincial – level customs departments to promote and announce the new regulation to relevant individuals and organizations.
Edited by: Dandelion