Vietnam to levy environmental tax on petroleum products

A new draft law submitted to the Vietnam National Assembly Standing Committee has recommended that the country impose environmental protection tariffs on petroleum products and coal. The tax, which would be effective January 1, 2012, would affect consumers’, producers’ and importers’ purchases of kerosene, fuel oil, lubricant, lubricating grease, diesel fuel, gasoline, jet fuel and coal. The tax would range from VND300 (US$.014) to VND1,000 (US$0.048) per liter of petroleum products and between VND10,000 (US$0.485) to VND20,000 (US$0.970) per ton of coal. (July 14,2011)