The Department of Domestic Market Management and Development ( Ministry of Industry and Trade ) recently sent a document to petroleum producers, distributors, and key traders regarding the National Assembly's resolution to reduce the VAT on gasoline by 2% from July 1, 2025, to December 31, 2026.
Resolution 204/2025/QH15 of the National Assembly stipulates a 2% reduction in the value-added tax rate, applicable to the group of goods and services specified in Clause 3, Article 9 of the Value-Added Tax Law No. 48/2024/QH15 (to 8%), except for certain groups of goods and services such as: telecommunications, financial activities, banking, securities, insurance, real estate business, metal products, mining products (excluding coal), and goods and services subject to special consumption tax (excluding gasoline).
Accordingly, the Ministry of Industry and Trade and the Ministry of Finance will adjust gasoline and diesel prices from 0:00 tomorrow, July 1st. Specifically, the maximum retail prices for gasoline and diesel products will be applied as follows:
E5 RON92 gasoline decreased by 101 VND/liter compared to the previous period, not exceeding 20,530 VND/liter. RON95 gasoline decreased by 128 VND/liter, not exceeding 21,116 VND/liter.
Meanwhile, the prices of other types of oil increased. Specifically, the price of diesel increased by 193 VND/liter compared to the previous period, not exceeding 19,349 VND/liter. The price of kerosene increased by 141 VND/liter compared to the previous period, not exceeding 19,064 VND/liter. The price of fuel oil decreased by 668 VND/kg, not exceeding 16,955 VND/kg.
The Ministry of Industry and Trade stipulates that the adjustment of selling prices for petroleum products is determined by petroleum wholesalers and distributors, but not earlier than 0:00 on July 1, 2025, for products with price increases, and not later than 0:00 on July 1, 2025, for products with price decreases.
According to Ms. Nguyen Thuy Hien, Deputy Director of the Department of Domestic Market Management and Development, from 3 PM on June 26th to before midnight on July 1st, the formula for calculating gasoline prices will still apply a 10% VAT rate. However, from midnight on July 1st, the tax rate will be 8%.
On July 3rd (Thursday), the Ministry of Industry and Trade will announce the base price for the next scheduled fuel price adjustment. "Therefore, there will be two price adjustments this week, one according to the regulation reducing VAT by 2% from July 1st, and one regular price adjustment," Ms. Hien said.
TH (according to VTC News)Source: https://baohaiduong.vn/gia-xang-giam-gia-dau-tang-tu-dem-nay-415322.html
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