484 petrol and oil stations in Hanoi must affix stamps to avoid tax losses

	Environmental tax for petroleum to be proposed to increase
	Tax accounts for more than 20% of retail price of petroleum
	Seal stamp on gasoline and petroleum to prevent loss of revenues

Affixing stamps to prevent fraud activities and State budget losses.

According to the plan, there have been 484 petrol and oil stations in the Hanoi which must affix stamps.

Earlier, the Hanoi Department of Taxation issued a decision to set up an Inter-Agency Steering Committee to affix stamps on fuel flow meter counters at petrol and oil stations in Hanoi.

The steering group consists of Inter-Agency Task Forces, including Taxation Department, Standardization, Metrology and Quality Control Department and Market Management Branch, with 42 members chaired by Mr. Vien Viet Hung. In which, the supporting team has 217 members.

In order to facilitate the stamping and the meter readings, the Hanoi Department of Taxation has sent leaders and staff of inter-ward teams to affix stamps.

Each month, tax officers will go to petrol shops in the area to record the actual reflectance figures on the petrol and oil meters and inform the quantity for competent teams to synthesize and evaluate.

Along with the stamping, the Hanoi Department of Taxation has also set up a system to manage the petroleum consumption periodically in the area to ensure quick information connection, avoid errors in the input data of meters. The data from the pump columns will be automatically aggregated in the order of the stations and the total number of the managing enterprise declaring taxes to the tax office.

In the context of petrol fraud that is hurting consumers and causing tax losses to the State budget, the Minister of Finance has requested the Taxation to have effective measures to manage the petroleum business.

Affixing stamps on petrol and oil stations in Nghe An province and Lam Dong province has been quite effective. Therefore, the Ministry of Finance has directed the General Department of Taxation to expand nationwide.

By the end of March 2017, 46 provinces and cities completed stamping for petrol and oil meters, with more than 10,000 petrol and oil stations and about 30,121 petrol columns. The initial results showed that after stamping, the output of gasoline consumption increased and the amount of environmental protection tax paid to the State budget increased by 10% on average.

Currently, the Taxation is developing policies to apply electronic invoices for petroleum business. Thus, in the long term, the Taxation will synchronize petrol invoicing software with the tax office to prevent fraud activities and State budget losses.

Add more conditions for special consumption tax deduction VCN - On 6th March 2017, the Ministry of Finance issued Circular No. 20/2017/TT-BTC amending and supplementing ...

The solution to seal up the total number of petrol and oil stations brings benefits to enterprises, the State and consumers.