Vietnam Lowers Import Duties on Petroleum Products

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Jan. 19 – 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.