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Fuel prices set to put pressure on inflation

Fuel prices set to put pressure on inflation

Increases in environmental protection taxes on petroleum from the beginning of next year would weigh heavily on inflation, especially as fuel prices rise worldwide, according to the Vietnam Institute For Economic and Policy Research (VEPR).

Finance Ministry proposes environmental tax hike

Finance Ministry proposes environmental tax hike

The Ministry of Finance has proposed raising environmental protection taxes on oil and petroleum products from the current VND3,000 (US$13 cents) to the ceiling level of VND4,000 (US$17 cents) per litre beginning July 1, 2018.