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Government to ‘tax’ products from Vietnam’s first refinery   2009-02-19 - ThanhNien, TuoiTre

 
 
   
Since the Dung Quat Oil Refinery’s products will not attract the 25 percent tariff payable on imported fuels, an equivalent amount of money will have to be transferred to the state budget, the government has ruled.

 

Prime Minister Nguyen Tan Dung has told the Ministry of Finance to formally draft a regulation for this and ordered PetroVietnam, the refinery owner, to submit the input costs and prices of its products, the Government Office said.

Nguyen Viet Thang, deputy general director of Binh Son Oil Refining-Petrochemical Co. Ltd, a PetroVietnam unit in charge of managing the refinery, said Dung Quat’s prices would be equivalent to that of imported products.

PetroVietnam Oil Corporation would distribute the products during the refinery’s test run, he said.

Dung Quat, which produced its first batch of refined products on February 14, is expected to release its first products on February 22.

It is expected to produce around 2.7 million tons of oil products this year, rising to 5.7 million tons in 2010.



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