The Ministry of Finance and Revenue has extended for another month the tax exemptions on imports of diesel fuel, fertilizer and liquefied natural gas (LNG), with the exemptions remaining in effect through July 31.

According to the ministry, the extension is intended to help stabilize the prices of essential commodities transported by diesel-powered vehicles amid rising global fuel prices driven by conflicts in the Middle East.

Under the extension, diesel HSD (500 ppm) imported through an Import Declaration (ID) filed with the Customs Department by July 31 will continue to be exempt from customs duty, the special goods tax, commercial tax and the 2 percent advance income tax.

The ministry also extended the exemption from the 2 percent advance income tax on fertilizer imports through July 31. The measure is aimed at supporting the continued development of the agricultural sector, a key pillar of the national economy, while reducing production costs for farmers. The exemption applies to fertilizer imports cleared through an Import Declaration (ID) with the Customs Department by the end of July.

In addition, the ministry extended tax exemptions on LNG imports through July 31 to help support electricity generation and ease power production costs as global LNG prices continue to rise. LNG imports cleared through an Import Declaration (ID) by July 31 will remain exempt from customs duty, commercial tax and advance income tax.