With a majority of present deputies voting in favor, the National Assembly passed the revised Excise Tax Law on June 14.

The law, which amends 11 articles, will take effect on January 1, 2026.

Accordingly, the goods subject to the tax include: tobacco; alcohol; beer; vehicles with fewer than 24 seats; two-wheeled and three-wheeled motorcycles with a cylinder capacity of over 125cc; airplanes, helicopters, gliders, and yachts; all types of gasoline; and beverages, as defined by Vietnam standards, with a sugar content exceeding 5g/100ml.

Regarding the excise tax on gasoline, Mr. Phan Van Mai, Chairman of the National Assembly's Economic and Financial Committee, stated that "In the long run, it is necessary to study a comprehensive revision of both the special consumption tax and the environmental protection tax to ensure this item is taxed reasonably and in line with international practices."

"In the context of needing to implement comprehensive solutions to effectively fulfill the Vietnamese Government's commitments (to net zero emissions by 2050) at the COP26 conference, the collection of the excise tax on gasoline, alongside the environmental protection tax, remains necessary at this stage," Mr. Mai said

Based on this reasoning, the National Assembly Standing Committee recommended maintaining the excise tax on gasoline.