Vietnam to restrict coal export by raising tax

Coal export tax rate would be expected to surge from the current 15 percent to 20 percent in a bid to restrict export of the fossil fuel, the Vietnam Ministry of Finance (VMF) said on Tuesday.

VMF’s proposal was made after the Vietnam Coal and Mineral Industries Group (Vinacomin) imported 9,500 tons of low-quality coal from Indonesia to supply power thermo-electric plants in Vietnam, making the country to become a coal importer for the first time.

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