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Politics

Vietnam approves further 50% cut in environment tax on fuel

Move aimed at helping country weather impact of soaring transportation costs

A worker pumps gas into a motorcycle in Hanoi. From July 11, Vietnam will cut its environment tax on fuel as soaring energy prices fan inflation.   © AP

HANOI (Reuters) -- Vietnam's national assembly approved on Wednesday a plan to cut the environment tax on fuel by half for the second time in three months as soaring energy prices put pressure on inflation, state television reported.

The extended cut, which will apply from July 11 to the end of the year, aims to help Vietnam weather the negative impacts of soaring costs of transportation on the economy, Vietnam Television reported.

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