Vietnam to tax sugary drinks, gasoline under new law
T revised Excise Tax Law which amends 11 articles, will take effect on January 1, 2026.
Excise taxes on cigarettes up for discussion
The “pressing” problem of tax rates and the roadmap for increasing excise taxes on cigarettes was again discussed at a recent seminar jointly organized by the Vietnam Tax Consultants’ Association (VTCA) and the Vietnam Chamber of Commerce and Industry (VCCI). Analysts noted that any sudden tax increases would encourage smuggling and result in tax revenue losses, so it is necessary to introduce an appropriate roadmap.
Vietnam content with cuts to environmental protection taxes to ease gasoline price burden
According to the Ministry of Finance (MoF), when unusual fluctuations appear in gasoline prices, many countries around the world cut VAT and excise tax rates and even introduce subsidies to help citizens. However, for many reasons, Vietnam has only reduced environmental protection taxes.
Excise tax suspension for domestic auto production extended
The Ministry of Finance has proposed extending the suspension of excise taxes on domestic automobile production, which would help businesses gain more financial resources to overcome the severe impact of Covid-19.