Vietnam Lowers Import Duties on Petroleum Products

Vietnam’s Ministry of Finance lowered import duties for petroleum products from January 14 onwards, according to the ministry’s web site.

The import tax for gasoline was cut to 0 percent from 6 percent, and the tax on diesel was decreased to 0 percent from 2 percent. The tax on kerosene was reduced to 2 percent from 6 percent, and on mazut from 5 percent to 2 percent.
In a separate statement, the ministry also also requested that petroleum product vendors not raise their prices to help combat price inflation.