Vietnamese MPs propose raising excise tax on alcohol

Published 2024년 11월 22일

Tridge summary

Vietnam's National Assembly is contemplating a significant increase in excise taxes on beer and other alcoholic beverages, elevating the rate from 65% to 90% by 2030 in an effort to curb the growing alcohol consumption in the country. This proposal stems from the concern over Vietnam's escalating alcohol dependency, which has been identified as the second highest in Southeast Asia and third highest in all of Asia. Each year, every Vietnamese citizen aged 15 and above consumes an average of 8.3 liters of pure alcohol, which equates to around 170 liters of beer. The proposed tax hike is part of a broader strategy to address the harmful consequences of alcoholism, including its economic, social, and healthcare implications.

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Original content

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 ...

Source: Kvedomosti