Vietnam Raises Tax on Oil Exports
|
|
|
|
Thursday, 24 April 2008 |
|
Vietnam raised its export tax on crude oil to eight
percent from four percent starting this week according to the Tax
Policy Department under the Finance Ministry.
The export taxes on most of metal ores were hiked to 20 percent from 7-15 percent, the tax agency said. Vietnam is reducing export of fossil
fuels like crude oil and coal to foster its petroleum and petrochemical
industries, and ensure sufficient supplies for key energy
industries like electricity and cement. Dung Quat, the country's first
refinery with an annual processing capacity of 6.5 million tons of
crude oil, is under construction in central Quang Ngai province and
scheduled to operate in early 2009.
PetrolWorld 230408
|
