A 2023 report by the Vietnam Health Economics Association estimated that the total cost of tobacco-related healthcare and economic losses reached 108 trillion VND (4.14 billion USD) annually – equivalent to 1.14% of GDP and five times higher than the budget revenue generated by the tobacco industry.

The Government has decided not to apply the mixed tax regime on beer and alcohol products.

The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.

Vietnam’s automobile sales in June totaled 24,421 units, dropping six percent against the previous month, announced the Vietnam Automobile Manufacturers’ Association (VAMA) on July 8.

Auto importers in Vietnam petitioned the Prime Minister and relevant sectors to consider problems related to some revised articles and supplements in the Law on Special Consumption Tax.

A number of draft laws sailed through the 11th meeting of the 13th National Assembly in Hanoi on April 6 with the majority of votes in favour.

National Assembly deputies concentrated their attention on the draft law on amendments and supplements to some articles of the Laws on Taxation and the draft revised law on export and import tariffs.