Year 2020: Continue to Stabilize the Percentage Rate of Environmental Protection Tax on Gasoline and Oil

Illustrative image (source: internet)

To be specific, according to Clause 4, Article 1 of Circular 88/2019/TT-BTC on the collection of environmental protection tax for gasoline and oil products: In 2020, the environmental protection tax rate for gasoline and oil products will continue to be stable as in 2017 - the first year of the 2017 - 2020 budget stability period. Accordingly: 37.2% of the environmental protection tax collected for gasoline and oil products will be divided between the central and local budgets; 62.8% of the environmental protection tax collected will be fully allocated to the central budget. The tax authorities shall cooperate with the State Treasury to guide taxpayers in declaring and paying taxes correctly according to the state budget index and budget division regarding the environmental protection tax collected for gasoline and oil.

Additionally, the Circular also stipulates the continued allocation of 100% of the special consumption tax and value-added tax collected from the gasoline and oil products of the Nghi Son Refinery and Petrochemical LLC to the central budget.

Continue to implement the allocation of water resource exploitation rights fee regulated in Decree 82/2017/ND-CP on the calculation method, fee rate for water resource exploitation rights as stipulated in Decree 67/2019/ND-CP dated July 31, 2019, of the Government of Vietnam on the calculation method, fee rate for mineral exploitation rights (for licenses issued by central agencies, allocate 70% of the revenue to the central budget and 30% to the local budget; for licenses issued by the Provincial People's Committee, allocate 100% of the revenue to the local budget);...

See the full text of the regulation in Circular 88/2019/TT-BTC effective from January 1, 2020.

Thu Ba

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