Vietnam proposes extending fuel tax cuts through September

Vietnam’s Ministry of Finance has proposed extending fuel-related tax incentives until Sept. 30 to help stabilise domestic energy prices amid global market uncertainty. As reported by Nguoi Lao Dong on June 25, the plan would keep a zero-per-cent preferential import tariff for petroleum products and fuel production inputs. It would also maintain a zero environmental protection tax and keep value-added tax waived for petroleum products and aviation fuel. The ministry warned that risks in global oil markets persist due to ongoing Middle East tensions, and that restoring fuel taxes immediately could raise prices and trigger inflationary pressures. Vietnam previously cut import tariffs on selected petroleum products and production inputs to zero through April 30, then extended the zero rates through June 30.