Vietnam Ups Petroleum-Product Import Duties from June 8

Reported by a Vietnamese newspaper, Vietnam Ministry of Finance issued a notice on June 8 to raise import duties on petroleum products under HS Code 2710, which is reportedly for the third time in 2012.

By the notice, from June 8, the import duties on almost all petroleum products are raised by three percentage points, such as 4% raised to 7% on aircraft engine fuels, 3% raised to 6% on diesel, and 5% raised to 8% on kerosene.