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Viet Nam: First Environmental Tax, Securities Laws Enacted |
| Source: |
english.vietnamnet.vn |
| Source Date: |
Thursday, December 16, 2010 |
| Focus: |
ICT for MDGs
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| Country: |
Viet Nam |
| Created: |
Dec 20, 2010 |
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President Nguyen Minh Triet promulgated Viet Nam's first Environmental Tax Law yesterday, Dec 15.
The Environmental Tax will become effective on January 1, 2011 and makes products made from oil and gas, coal and the hydro-chloro-fluro-carbons, HCFCs, used in refrigeration liable for tax.
These include plastic bags, pesticides, agricultural-produce preservatives, warehouse sanitisers and chemicals to kill termites.
The tax was necessary to help protect the environment, explained Deputy Finance Minister Do Hoang Anh Tuan.
Economic growth and urban development had damaged the environment and the tax would raise public awareness about the need to protect it; enhance State management, endorse Viet Nam's international commitment and increase the public's contribution, he said.
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