Ministry of Finance has just announced another decision about raising tariff tax of petroleum products, a day after announcing to reduced the drawing from stabilization fund.

December 28th, 2011, morning, Ministry of Finance issued a Circular 197/2011/TT-BTC guiding on implementing the preferential tariff tax rates for goods belong group 2710 at the preferential tariff tax section. Accordingly, the import duties of petroleum products will up to 4-5% from zero.

According to Circular, since December 28th, 2011, gasoline, leaded gasoline, unleaded gasoline, yet fuel, other gasoline, tetrapropylene, white spirit, other spirit, naphtha, reformate, other preparations for mixing gasoline, neutral fuel, turbine engine fuel for aviation (yet fuel) have a flash point above 23°C, turbine engine fuel for aviation (yet fuel) have a flash point below 23°C will be imposed the import duty at 4% from zero.

Lubricant products, diesel... will have import import tax rate at 5% from zero. particularly, waste oil products shell be imposed at 20%.

Only furnace fuel, including mazut, remains import tax at 0%.

Source: Xangdau.net