HANOI, July 10 (Xinhua) -- Vietnam has reduced the gasoline import tax from 10 percent to 5.62 percent beginning in July, according to the country's Ministry of Finance.
The average import tax on diesel and mazut oil is down to 0.58 percent and 1.38 percent, respectively, with no adjustment made to paraffin, local newspaper Vietnam News reported on Monday, citing the ministry.
The cuts are based on the proportion of gasoline, diesel, paraffin and mazut oil imported by petroleum traders in the second quarter of 2023 and are expected to help reduce domestic petrol prices in the near future, the ministry said.
Some of the standard costs in the gasoline base price have been changed. Specifically, business expenses in the base price of mazut oil decreased by 184 Vietnamese dong (0.0078 U.S. dollar) to 360 Vietnamese dong (0.015 dollar) per kilogram.
Unleaded gasoline and diesel oil increased by 30 Vietnamese dong (0.0013 dollar) each to 1,080 Vietnamese dong (0.046 dollar) and 1,030 Vietnamese dong (0.044 dollar) per liter, respectively. ■
