Tax changes require more scientific basis
August 19, 2024 | 16:00
The Ministry of Finance is set to put more special consumption taxes on several types of drink. Nguyen Van Phung, former director of the Department of Tax Administration for Large Enterprises, spoke to VIR’s Huong Uyen about issues related to the draft law on this type of levy.
Consumer beverage trends must be taken into account
August 19, 2024 | 14:00
The alcoholic beverage market in Vietnam is undergoing a significant transformation due to new consumer trends and particularly the enforcement of stricter concentration policies. Le Minh Trang, associate director of the Retail Measurement Service at NielsenIQ (NIQ) Vietnam, talked to VIR’s Hoang Oanh.
Building a reasonable roadmap for increasing SCT
August 19, 2024 | 12:00
After 16 years of implementation, the current Law on Special Consumption Tax (SCT) has achieved significant results, but the amendment of the law is necessary with a specific roadmap to enhance comprehensive alcohol management measures.
SCT law options being calculated carefully
August 19, 2024 | 08:00
Businesses and insiders calling for changes in taxes, particularly in terms of products like beer, need to quantify the impacts on society and industry as a whole.
VIR conference hears beer profits have declined due to controls
August 17, 2024 | 12:25
Beer industry revenues have fallen by 6 per cent across the country and by 11 per cent in six major cities in the last 12 months due to stricter alcohol concentration regulations as well as consumer preferences.
Amended special consumption tax should be applied over next two or three years
August 16, 2024 | 11:40
An amended special consumption tax (SCT) on alcohol should have a reasonable route so that manufacturers have time to adapt to the changes.
Balancing interests for fair hike to special consumption tax
August 16, 2024 | 09:12
The roadmap laid out to increase the special consumption tax should be scrutinised to balance the interests of the government, manufacturers, and consumers.
Sudden increase in special consumption tax fails to change consumer behaviour
August 15, 2024 | 12:14
Abrupt tax increases do not alter consumer behaviour, suggesting a need to combine tax measures with administrative approaches.
Phased tax hikes crucial for sustaining business operations
August 15, 2024 | 12:13
Proposed tax increases on some beverages have raised concerns, particularly given the ongoing challenges faced by the beverage industry in particular.
A holistic approach to the increase of special consumption tax on beer and spirits
August 14, 2024 | 19:08
A holistic approach should be taken to setting a new limit and timeline for a special consumption tax on beer and alcohol.
VBA requests amendments to the draft on special consumption tax
August 14, 2024 | 19:04
The VBA has shown support for amending the special consumption tax but has suggested a reduction in the amount of tax to be increased.
Conflicts apparent regarding proposed consumption tax
July 25, 2024 | 19:00
Beverage industry leaders continue to put across their views on the potential increase in special consumption tax on various beverages.
Beer industry compelled to adjust to potential tax impact
July 04, 2024 | 15:16
Following a stressful few years of slumping demand, the beer industry is taking on even more challenging times, including the potential impact of special consumption tax, which leaves it finding new ways to prosper.
Brewers seek answers to new habits and strict rules
June 13, 2024 | 13:00
The business picture for brewers is not as bright as expected, with a potential special consumption tax and continuing strict laws likely to affect the situation going forward.
Beverage businesses seek delay in special consumption tax increase
March 19, 2024 | 10:28
Companies in Vietnam’s beverage industry are asking for a delay to a special consumption tax increase to enable them time to recover from a difficult period.
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