Vietnam plans cut in environment tax on fuel as prices soar

Customers refuel motorcycles at a gas station in Ho Chi Minh City, Vietnam. - Bloomberg

HANOI, March 4 (Reuters): Vietnam's finance ministry has announced that it would propose to the government a cut in environment tax on fuel, amid soaring energy prices globally.

The ministry is seeking approval to lower the tax by 25% on gasoline to 3,000 dong ($0.13) per litre, and reduce the tax on diesel fuel and lubricants to 2,000 dong per litre. Tax on kerosene would be cut by half to 500 dong per litre.