proposed sct increase further threatens farmers chances to recover

Proposed SCT increase further threatens farmers' chances to recover

Amid the current geopolitical tensions and escalating prices for fuel and petrol, farmers see themselves confronted with added hardships after two years of the health crisis, which could be further worsened if a proposed increase of special consumption tax (SCT) on tobacco is enacted.
sct exemption for localisation

SCT exemption for localisation

Proposals on the special consumption tax exemption for locally-manufactured parts will be a key driver for automobile manufacturing and supporting industries to take flight with the help of the private sector.
ministry wants to reduce tax on locally made auto parts

Ministry wants to reduce tax on locally made auto parts

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.
increase on special consumption tax vital to reduce smoking

Increase on special consumption tax vital to reduce smoking

The new cigarette tax rate of VND5,000 (US$0.2) per pack will help reduce the rate of tobacco consumption and strengthen the State budget, health experts have said.
multi dimensional opinions during formation of law on tax

Multi-dimensional opinions during formation of law on tax

In order to ensure the simplicity, consistency and transparency of the law, during the law formation process the government and lawmakers must listen to the multi-dimensional opinions from consultant firms and the relevant authorities.  
draft law to prevent alcohol firms social responsibility programmes

Draft law to prevent alcohol firms' social responsibility programmes

Businesses are worried that paying 0.5 to 1 per cent of their sales revenue to a health fund or the state budget prescribed by the Draft Law on Alcohol Harms Prevention would prove too much, as they are already charged with high special consumption tax. They want to conduct CSR activities to reduce the harmful use of alcohol by themselves.
french drink makers eye vietnam

French drink-makers eye Vietnam

Wishing to cash in on Vietnam’s skyrocketing demand for drinks, French beverage firms have asked local authorities to ease special consumption tax lines, which they find to be too high and contrary to the country’s commitments of reducing taxes for beverages under the EU-Vietnam Free Trade Agreement.
ministries protest special consumption tax on soft drinks

Ministries protest special consumption tax on soft drinks

Numerous ministries and associations protested against the Ministry of Finance (MoF)’s proposal to apply a special consumption tax (SCT) of 10-20 per cent on soft drinks.
no more alcohol tax hikes forum pleads

No more alcohol tax hikes, forum pleads

Taxes on alcohol and soft drinks should not be hiked again in the next few years since successive hikes in special consumption tax have had a strong impact on the market, a round table organised by the Viet Nam Beer, Alcohol and Beverage Association heard in HCM City on Wednesday.
vba petitions against soft drinks tax

VBA petitions against soft drinks tax

The Vietnam Beer Alcohol Beverage Association (VBA) has requested the Ministry of Finance (MoF) to withdraw its proposal to apply a special consumption tax (SCT) of 10 or 20 per cent on soft drinks due to a lack of practical considerations and negative impacts on soft drinks manufactures as well as the state budget.
tax burdens to raise beer prices

Tax burdens to raise beer prices

When the special consumption tax (SCT) on beer increases to 65 per cent, it is estimated that consumers will have to bear a tax levy of 45.9 per cent, not to mention the possible growth of value added tax (VAT) on beer proposed by the Ministry of Finance (MoF).
sugary drinks may get unsavoury tax

Sugary drinks may get unsavoury tax

The Ministry of Finance is proposing the levy of a special consumption tax of 10-20 per cent on sugary drinks to combat obesity rates, though a similar proposal was rejected by the government three years ago. VIR’s Van Thu offers insight into the hot debate surrounding the new proposal.
government okays amendments to tax laws

Government okays amendments to tax laws

The Ministry of Finance on Tuesday announced a scheme for amending tax laws, including the laws on value added tax, personal income tax, natural resource tax and special consumption tax.
finance ministry proposes reasonable tax hikes

Finance Ministry proposes ‘reasonable’ tax hikes

The Ministry of Finance (MoF) introduced a draft of amendments to laws on Value Added Tax, Special Consumption Tax, Corporate Income Tax, Personal Income Tax and Natural Resources Protection Tax at a press conference on Tuesday.
finance ministry proposes new tax on pickups

Finance Ministry proposes new tax on pickups

The Ministry of Finance has proposed that the Government apply a special consumption tax on pickups to be set at 60 per cent of the tax on cars with nine seats or less with similar engine displacement, a move that would sharply increase their cost.