The Ministry of Finance is seeking opinions on the draft Resolution of the Government on extending the validity of preferential import tax, environmental protection tax and value-added tax on gasoline, oil, raw materials for gasoline, oil and aviation fuel.
According to the draft, the Ministry of Finance proposes to extend the application period of preferential import tax exemption (MFN), environmental protection tax and value-added tax for gasoline and oil to the end of September 30, 2026, which is an additional 3 months compared to current regulations.
Explaining the proposal to extend the tax exemption and reduction policy, the Ministry of Finance said that the conflict in the Middle East has disrupted traffic through the Strait of Hormuz - which transports about 84% of oil to Asia.
This development has caused world gasoline prices to increase sharply, increasing the consumer price index (CPI) and domestic living costs.
Faced with that situation, the Government has implemented many solutions to ensure gasoline and oil supply, requiring businesses to diversify the import market for raw materials and finished gasoline and oil products.
At the same time, the Ministry of Finance is assigned to coordinate with the Ministry of Industry and Trade and relevant ministries and sectors to submit to competent authorities for promulgation decrees and resolutions on tax reduction for gasoline and oil and gasoline production materials.
According to the Ministry of Finance, the Government has issued Decree No. 72/2026/ND-CP dated March 9, 2026, reducing the preferential import tax rate for some gasoline and oil items and gasoline and oil production raw materials to 0%, effective until the end of April 30, 2026.
Following that, Resolution No. 25/2026/NQ-CP dated April 30, 2026 extended the application time of Decree No. 72/2026/ND-CP until the end of June 30, 2026 and added some raw materials for gasoline and oil production to the subjects subject to the 0% preferential import tax rate.
In addition, the National Assembly has issued Resolution No. 19/2026/QH16 dated April 12, 2026 on environmental protection tax, value-added tax and special consumption tax on gasoline and aviation fuel.
According to this resolution, environmental protection tax is reduced to 0 VND, special consumption tax to 0% and value-added tax is not calculated for gasoline and oil, effective until the end of June 30, 2026.
On June 6, 2026, the Government issued Resolution No. 148/NQ-CP on the regular Government meeting in May 2026, assigning the Ministry of Finance to coordinate with the Ministry of Industry and Trade to assess the current gasoline and oil tax exemption and reduction policy to advise on operating plans after June 30, 2026.
Implementing the assigned task, on June 9, 2026, the Ministry of Finance issued Official Dispatch No. 7792/BTC-CST to the Ministry of Industry and Trade requesting to analyze the developments of the domestic and world gasoline and oil markets, forecast the situation in the coming time and propose a plan for tax policy management after June 30, 2026.
On June 12, 2026, the Ministry of Industry and Trade issued Official Dispatch No. 4358/BCT-TTTN requesting to extend the validity of Decree No. 72/2026/ND-CP, Resolution No. 25/2026/NQ-CP and Resolution No. 19/2026/QH16 until the end of December 31, 2026.
At the same time, the Ministry of Industry and Trade also proposed considering solutions to handle problems related to special consumption tax and value-added tax arising in the process of implementing tax reduction policies for gasoline and oil businesses.
Based on assessing the developments of the gasoline and oil market, the impact on inflation, state budget revenue and directing opinions on advising on gasoline and oil tax policies suitable to the price level before conflicts occur and inflation factors, the Ministry of Finance submits to the Government a draft Resolution on extending the duration of applying preferential import tax, environmental protection tax and value-added tax on gasoline and oil, raw materials for gasoline and oil production and aviation fuel until September 30, 2026.
