Vietnam Temporarily Suspends Taxes on Petroleum Products

Hanoi — Vietnam has decided to temporarily suspend taxes on petroleum products. This step was taken to reduce the pressure on the domestic market caused by the rise in oil and gas prices in the international market.

According to the international news agency Reuters, Vietnam's Ministry of Finance has announced the decision to remove environmental protection taxes and special consumption taxes on gasoline, diesel, and jet fuel. 

According to the statement issued by the ministry, the tax exemption will remain in effect until April 15. Due to the ongoing US-Israeli war in Iran, oil prices in the world market have continued to rise, increasing inflationary pressure on import-dependent countries like Vietnam.