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MoF proposes 30-percent reduction to environmental protection tax on jet fuel

The Ministry of Finance (MoF) has proposed to cut environmental protection tax on jet fuel by 30 percent, from 3,000 VND to 2,100 VND per litre.
MoF proposes 30-percent reduction to environmental protection tax on jet fuel ảnh 1Vietnam Airlines currently focuses on domestic flights as the COVID-19 pandemic is still affecting travel worldwide. (Photo: Vietnam Airlines)

Hanoi (VNA) - TheMinistry of Finance (MoF) has proposed to cut environmental protection tax on jetfuel by 30 percent, from 3,000 VND to 2,100 VND per litre.

Thereduction is expected to help remove difficulties for the aviation industry dueto the serious impact of the COVID-19 pandemic.

The ministry is collecting ideasand contributions from ministries and sectors to  theNational Assembly Standing Committee’s draft resolution on environmentalprotection tax on jet fuel.

Theministry calculated that with such a reduction, the State budget revenue will decrease 87.33 billion VND (3.75 million USD) per month. However, the cut will help airtransport businesses ease the financial burden and maintain business operationsas the COVID-19 pandemic is still serious and unpredictable worldwide.

Thefinance ministry asked ministries, sectors, localities and agencies to sendtheir comments before June 10, 2020. This resolution is expected to beeffective until the end of this year./.
VNA
#Ministry of Finance#environmental protection tax#jet fuel#tax cut#aviation industry#COVID-19#Vietnam#Vietnam news#Vietnam news agency#Vietnamplus
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