HANOI, April 12 (Xinhua) -- Vietnam's National Assembly on Sunday morning approved a resolution cutting environmental protection, value-added and special consumption taxes on gasoline, oil and aviation fuel to zero through June, the Vietnam News Agency reported.
The resolution will take effect from April 16 to June 30, with the government tasked to adjust its duration and tax provisions in line with global price developments and report to the parliament, according to the report.
Earlier, the government applied the cuts from March 26 to April 15, the Government Portal said.
According to the Ministry of Industry and Trade, VAT accounts for about 7.4 percent of fuel base prices, environmental protection tax for between 2.7 and 6 percent, and special consumption tax for 6.7 percent, making the cuts a move to curb inflation and support socio-economic growth this year amid rising global energy prices due to Middle East tensions, local media VnExpress reported. ■
