Abstract
Because of its fast economic expansion in recent decades, Vietnam, a developing country, is increasingly plagued by environmental degradation. Vietnam is also one of the five countries most affected by climate change. In 2012, the government enacted the Environmental Protection Tax Law, which included a broad-based package of environmental levies. The implementation of the Environment Protection Tax (EPT) is one component of a larger process of greening the Vietnamese economy. Environmental taxes have the potential to alleviate some of the environmental issues that developing countries face. At the same time, it promotes long-term patterns of production and consumption. This offers financial resources required to enhance social and environmental indices. However, environmental taxes may have both direct and indirect consequences, such as increased prices for products and services, which have a detrimental impact on social justice, particularly in low-income households. This page will give a more in-depth explanation of environmental protection tax implementation, accomplishments, and impacts. It is also responsible for analyzing issues and making recommendations for future EPT improvements.
Highlights
Environmental problems are putting greater pressure on the government to seek ways to reduce damage to the environment while maintaining economic growth
This study looks at a case study of environmental taxation in Vietnam
The mandate for the tax reform is an essential part of the broader environmental protection strategy pursued by the Vietnamese Government
Summary
Environmental problems are putting greater pressure on the government to seek ways to reduce damage to the environment while maintaining economic growth. Governments can employ various tools, from Law to information efforts and innovation policies to environmental and environmental charges. Taxes are a key element of this set, in particular. Environmental taxes provide a wide variety of important benefits, including environmental efficiency, economic efficiency, public income capacity, and openness. The environmental fee has successfully handled several problems, including garbage disposal, water contamination, and pollutants. The application of the environmental tax and the concerns of the political economy are crucial variables for determining the effectiveness of environmental taxation application [1]
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