Vietnam extends fuel tax relief measures until end-2026

Hanoi, Vietnam has decided to prolong a set of fuel-tax relief measures until the end of 2026, according to a government statement released on Thursday. The extension of the package aims to ensure energy security, stabilize the economy, curb inflation, and support business activity, all while encouraging companies to diversify their fuel import sources and lessen reliance on traditional suppliers.

The resolution signed on September 30 extends reduced import tariffs on gasoline, diesel, fuel oil, jet fuel, and key refinery feedstocks until December 31. The tariff cuts include a significant reduction in the preferential import duty on gasoline from 10% to 0%. Diesel, fuel oil, kerosene, and jet fuel tariffs remain at 0% rather than the standard 7%. Additionally, tariffs on several petrochemical feedstocks have also been reduced to zero.

Besides these tariff reductions, the environmental protection tax rate and the value-added tax rate for gasoline and petroleum products will remain at zero until the end of 2026. The fuel tax relief measures were first introduced in March and have since been extended multiple times.