Vietnamese MPs propose raising excise tax on alcohol

Deputies of the National Assembly (unicameral parliament) of Vietnam have proposed to significantly increase excise taxes on beer and other alcoholic beverages in order to reduce their consumption in the country. The initiative, as reported by the newspaper "Nhan Zan", was voiced during the discussion on Friday of amendments to the law "On excise tax" at the ongoing 8th session of the National Assembly of the 15th convocation. According to the proposal, the tax rate on beer and other alcoholic beverages will be gradually increased from the current level of 65% to 90% by 2030. Deputies agreed that in order to make a final decision on increasing the excise tax rate, the government and the Ministry of Finance must conduct a thorough study and give a comprehensive assessment of the consequences of such a step. As noted by the Vietnamese Ministry of Health, the level of alcohol consumption in the country is growing rapidly and now Vietnam ranks second among its neighboring countries ...