VietnameseExcise Tax on Petrol Set to 0%
The Government of the Socialist Republic of Vietnam has issued Resolution No. 45/2026/NQ-CP on October 31, 2026, promulgating regulations concerning the excise tax on petrol. This resolution, effective from November 1, 2026, to March 31, 2027.
Article 1 of the resolution stipulates that the excise tax rate applicable to all kinds of petrol is set at 0%. This adjustment aims to address socio-economic development needs, ensure energy security, and stabilize the petrol and oil market. The resolution supersedes the excise tax rate provisions outlined in Article 3 of Resolution No. 19/2026/QH16 of the National Assembly, as modified by Clause 2, Article 3 of the Government's Resolution No. 43/2026/NQ-CP.
Furthermore, the resolution provides for potential adjustments to its effective period. Should there be a necessity to alter the duration to better meet socio-economic objectives, the Ministry of Industry and Trade shall propose changes to the Ministry of Finance for governmental consideration and decision.
This resolution mandates implementation by ministers, heads of ministerial-level agencies, chairpersons of provincial-level People's Committees, centrally run cities, and relevant organizations and individuals. The resolution takes effect on November 01, 2026.
