The Government on March 9 promulgated Decree No.72/2026/ND-CP revising preferential import tariff rates for a number of gasoline and oil products as well as materials used for petroleum production under the Preferential Import Tariff Schedule issued together with Decree No.26/2023/ND-CP dated May 31, 2023 on export tariffs, preferential import tariffs, the list of goods and absolute tax rates, mixed taxes, and out-of-quota import duties.

Accordingly, Article 1 of the decree revises the preferential import tariff rates applicable to several petroleum products and materials used in petroleum production under the Preferential Import Tariff Schedule issued together with Decree No.26/2023/ND-CP dated May 31, 2023 of the Government on export tariffs, preferential import tariffs, the list of goods and absolute tax rates, mixed taxes, and out-of-quota import duties.

The preferential import tariff rates for a number of gasoline and oil products as well as materials used for petroleum production, as stipulated in Appendix II, the Preferential Import Tariff Schedule under the list of taxable goods issued together with Decree No.26/2023/ND-CP dated May 31, 2023 of the Government on export tariffs, preferential import tariffs, the list of goods and absolute tax rates, mixed taxes, and out-of-quota import duties, are amended to new preferential import tariff rates as specified in the Appendix attached to this decree.

Regarding its validity, the decree takes effect from the date of signing until April 30, 2026. After the decree expires, the preferential import tariff rates for a number of gasoline and oil products and materials used for petroleum production specified in the Appendix attached to this decree will be implemented in accordance with the provisions of Decree No.26/2023/ND-CP, except for the case stipulated in Clause 2 of this Article.

In cases where urgent requirements arise to ensure socio-economic development and stabilize the petroleum market, making it necessary to extend the validity period of the decree, the Ministry of Industry and Trade will submit its proposal to the Ministry of Finance, which will take the lead in consolidating and reporting to the Government for the issuance of a law-making resolution to extend the application period of this decree.