Vietnam will extend the policy of exempting fuel taxes in order to stabilize oil prices until the end of June.

The office of the Vietnamese National Assembly announced on the 12th that Vietnam has decided to extend the deadline for suspending the collection of fuel taxes from the previously announced April 15th to the end of June in order to stabilize domestic oil prices. According to the statement from the office of the Vietnamese National Assembly, the National Assembly has passed a resolution to continue the suspension of environmental protection tax and special consumption tax on fuel consumption. The Vietnamese government had previously announced the suspension of environmental taxes on gasoline, diesel, and aviation fuel, as well as special consumption taxes on gasoline from March 27th to April 15th. The Vietnamese Ministry of Finance said that this will result in a monthly reduction of 72 trillion Vietnamese dong in state budget revenues.