Vietnam: Continue to stabilize the rate (%) of environmental protection tax on gasoline and oil in 2021

Duc Thao

17:40, 31/12/2020

This is a notable content of the Circular No. 109/2020/TT-BTC on organization of implementation of State budget estimates in 2021, issued by the Ministry of Finance of Vietnam on December 25, 2020.

Specifically, according to Clause 4 Article 1 of the Circular No. 109/2020/TT-BTC of the Ministry of Finance of Vietnam, continuing to keep the distribution percentage (%) stable, the mechanism for regulating some specific revenues is as follows:

- Collection of environmental protection tax for petrol and oil products: In 2021, the rate (%) of environmental protection tax for petrol and oil products will continue to be stable as in 2017. Accordingly: 37.2% of the environmental protection tax revenue for petrol and oil products is the revenue split between the central budget and the local budget; 62.8% of the environmental protection tax revenue, 100% of the revenue to the central budget;

- Continue to regulate the central budget 100% of the collection of special consumption tax, value added tax on gasoline and oil products of Nghi Son Refinery and Petrochemical Plant;

- Continue to regulate the collection of fees for granting the right to exploit water resources as decentralized as prescribed in Resolution No. 64/2018/QH14 dated June 15, 2018;

- …

View more details at the Circular No. 109/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from February 08, 2021.

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