HANOI, April 2 (Xinhua) -- Vietnam's Ministry of Finance has proposed reducing the value-added tax (VAT) and environmental protection tax on kerosene and mazut to zero in an effort to lower costs for citizens amid tensions in the Middle East, local media outlet VnExpress reported Thursday.
Vietnam's environmental protection tax, VAT and special consumption tax on gasoline, excluding ethanol, diesel and jet fuel, have already been reduced to zero under a decision recently issued by the prime minister.
Kerosene and mazut are currently still subject to an environmental protection tax of 1,000 Vietnamese dong (0.038 U.S. dollars) per liter or kilogram and a VAT of 10 percent.
The draft policy on tax cuts for petroleum products is expected to be submitted to the 16th National Assembly at its first session, which is scheduled to open on April 6, the report said. ■
