The rise is the second of its kind this year and will attempt to restrict the country's natural fuel resources exports, said the ministry's General Department of Taxation.
The ministry stipulated that the export tax on crude oil would increase to 20 per cent from the current 8 per cent and on coal to 20 per cent from the current 15 per cent.
The tax on aluminium, tin, uranium and other ores used in cement production will be raised to 20 per cent from the current 10-15 per cent.
According to the ministry, the country is reducing fossil fuel export, including crude oil and coal to help petroleum and petrochemical industries and ensure sufficient supplies for energy-needy industries like electricity and cement.
On April 22, export taxes were raised for the first time this year. Crude oil tax rose to 8 per cent from the previous 4 per cent, coal to 15 per cent from 10 per cent and most metal ores to 20 per cent from 7-15 percent.
In the first five months of the year, the country exported 5.7 million tonnes of crude oil worth US$4.5 billion, down 11.3 per cent in volume but up 45.5 per cent in value, according to the country's General Statistics Office (GSO).
It spent nearly $4.9 billion importing 5.8 million tonnes of petroleum products, posting respective year-on-year increases of 68.7 per cent and 6.2 per cent, according to GSO.
The country targeted to export roughly 16 million tonnes of crude oil this year up 6.7 per cent over last year. This year's coal export expected to fall by roughly 11 per cent over last year, standing at around 28 million tonnes.
The country's export strategy during 2006-10 as approved by the Prime Minister, required a reduction in crude oil and coal exports.
This year's coal exports were to fall by roughly 1 million tonnes over 2007 to 10 million tonnes and the figures for 2009 and 2010 should be at around 9 and 8 million tonnes, respectively.
Source: Viet Nam News
The Ministry of Finance has decided to increase export taxes on crude oil, coal and ore to 20 per cent effective this coming Monday.