Vietnam slashes tariff for the second time

Vietnam’s Ministry of Finance  reduced import taxes on oil products for a second time in less than a month, according to a statement on its website. The largest cuts were on gasoline, jet fuel, naphtha and reformate, where import tariffs were halved to 6%. This was followed by kerosene, with import taxes reduced by 4 percentage points to 6%, diesel fuel, to 2% from 5%, and fuel oil by 2 percentage points to 5%. The new import tariffs came into effect December 22. (December 23, 2010)