Vietnam approves 90 percent tax rate on beer, strong alcohol by 2031
File photo
HANOI: Vietnam's lawmakers approved raising the tax on beer and strong alcoholic beverages on Saturday to 90 percent by 2031 from the current 65 percent, state media said.
The tax rate on liquor with more than 20 percent alcohol content and all beers will rise five percentage points yearly from 2027 before reaching 90 percent in 2031 under the National Assembly's new legislation.
Levies will also increase by five percentage points annually for other drinks with alcohol content below 20 percent, which are currently subject to a 35 percent tax, reaching 60 percent by 2031.
"The gradual annual tax increase is not intended to change behaviour but rather to help consumers adapt more easily," Hoang Van Cuong, a member of parliament, told the assembly in March.
Lawmakers also approved a new levy of eight percent on beverages containing more than five grams of sugar per 100 millilitres, taking effect in 2027 and increasing to 10 percent in 2028.
Beer sales in Vietnam took a hit following the introduction of a strict zero-alcohol rule for drivers in 2019.
However, Dan Martin, an International Business Advisor at Dezan Shira & Associates, said Vietnam's drinking culture has roots "that run far too deep to be uprooted by policy alone".
"Rather than spelling doom for the beer market, these measures represent more of a speed bump than a roadblock," he told AFP.
Martin said that behavioural shifts were already underway, with more Vietnamese people consuming alcohol at home rather than at traditional venues such as bars.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Exclusive Pre-Launch Offers – SPR Gurgaon
Signature Global
Book Now
Undo
The trend "isn't just consumers reacting to new rules", he said.
Vietnam ranked seventh globally in beer consumption in 2022, according to a report by Kirin Holdings, a Japanese beer company.
Nearly 41,000 Vietnamese people die each year due to alcohol consumption, according to the health ministry.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
40 minutes ago
- Time of India
‘RaGa and Kharge to speak with protesting HAU students over phone'
1 2 Hisar: Congress general secretary and Rajya Sabha MP Randeep Singh Surjewala visited Hisar on Friday to express solidarity with the students protesting against the alleged police brutality at Chaudhary Charan Singh Haryana Agricultural University (HAU). Surjewala met the injured students and extended full support to their demands. Backing the students' agitation, Surjewala assured that the Congress party stands firmly with them. "I will write to the chief minister and the governor seeking an appointment, and I will personally lead a delegation of the protesting students to meet them," he said. "Congress leaders will also accompany the students to ensure their voices are heard clearly and their demands are addressed promptly." Surjewala revealed that senior Congress leaders Rahul Gandhi and party president Mallikarjun Kharge would soon speak to the student leaders over the phone. "I have collected the contact numbers of two students. Rahul Ji and Kharge Ji will personally talk to them to understand their condition and concerns," he said, adding, "The youth's fight will be taken from the streets to the Parliament." Taking aim at the govt, Surjewala alleged that both the state and central govts are working to commercialise education. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Audiologists Furious About New $160 Device That Makes Hearing Crystal Clear Again risinghealthtrends Learn More Undo "The University Grants Commission (UGC) budget was slashed by Rs 5,000 crore, and the state govt also cut funding to state universities by nearly Rs 1,000 crore," he claimed. He added that institutions such as HAU, Guru Jambheshwar University (GJU), Kurukshetra University, and the engineering university in Sonipat have all seen budget reductions. "The govt wants universities to operate on a self-finance model, which is nothing short of playing with the future of our youth," he said. Accusations against administration Surjewala also accused the district administration of acting under political pressure. Surjewala said the SP and DC of the district are working under govt pressure, which is why, despite an FIR being registered against those involved in the assault on students, no arrests were made so far. MSID:: 121849554 413 | Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Time of India
40 minutes ago
- Time of India
Waste-to-wonder: Noida Jungle Trail with tigers & camels set to open in July
Noida: A slice of the wild, crafted from steel and imagination, Noida's Jungle Trail is almost ready to welcome visitors next month. Part of the waste-to-wonder park project, the trail is set for a trial run starting June 25, with an official opening expected in early July. While final touches are underway, officials say installation of the main gate, a cafeteria, and paintwork remain. Deputy director (horticulture) of Noida Authority, Anand Mohan Singh, said UP chief minister Yogi Adityanath will also be invited for the park's inauguration. The 20-acre park is strategically placed to attract visitors from Noida, Delhi, Greater Noida and Faridabad. Built at an estimated cost of Rs 22 crore, the park is being developed on a public-private partnership (PPP) model by the Noida Authority in collaboration with a private company called Z-Tech. The company has developed similar parks in Lucknow, including UP Darshan Park and Happiness Park. Divided into four themed zones, the park offers an immersive wildlife experience. The Jungle Trail has over 700 life-sized animal sculptures from six continents, including elephants, tigers, camels, and exotic birds. Isha Chaudhary, vice-president of Z-Tech, said every animal and artistic installation at the park has been designed using scrap materials like nuts, bolts, rods, chains, and fuel tanks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo "This reinforces our dedication to protecting the environment and our support towards the Swachh Bharat Mission," she said. "At this park, visitors can also experience a night Jungle Safari, where illuminated sculptures and ambient lighting create an authentic, life-like adventure," she added, noting that all sculptures, furniture, gazebos, and lighting fixtures at the park have been made using recycled and repurposed materials. Nearly 500 tonnes of iron waste have been repurposed into elaborate sculptures, turning discarded materials into captivating visual elements. While most of the construction has been completed, the main entry gate, cafeteria, and painting are underway. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Time of India
40 minutes ago
- Time of India
Gzb company shut 30 yrs ago but occupied govt land, fined Rs 111 crore
Ghaziabad : Modinagar Palika Parishad has slapped a fine of over Rs 111 crore on Modi Tele Fibre, a defunct private firm, for illegally occupying 25 acres of municipal land since 1984. Though the company, once involved in textile thread manufacturing, shut down nearly 30 years ago, it continued to hold onto the land until the civic body reclaimed it in 2021. A formal notice now demands payment within 15 days; failing to do so, recovery proceedings will begin, officials said. The case marks one of the region's largest municipal penalties. "The Modi Tele Fiber, which used to make textile fiber, was in possession of about 25 acres of govt land in C-Line, which was used for commercial purposes. In a land audit carried out in 2021 by the palika, it was revealed that the company was in illegal possession of the land where it set up a factory and dwelling units," said Ankit Choudhary, revenue officer, Modinagar Nagar Palika. In Khasra number 632, 2910 sqm of land was encroached; 1140 sqm in Khasra number 633; 1390 sqm in Khasra number 641; and in Khasra number 572, about 21730 sqm of land was under company possession. "The fine amount has been computed for the time period between 1984 and 2021, which has been calculated to be Rs 111 crore. In 2021, we took possession of the land, but within the factory, there are a few areas where the company has dumped its unused and defunct machinery. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Since the company was closed many years ago, we pasted the notice on the company gate to deposit the amount in 15 days, failing which the recovery process will be initiated," added Choudhary. The palika issued similar notices to the company earlier, but it failed to respond. "Since the company has been closed down for many years now, which has led to mass retrenchment of workers, there is no office or employees left, so we had to paste the notice on the gate of the company," said Choudhary. Attempts were made to contact the management of the company, but to no avail. Modi Tele Fibres (MTL), formerly known as Modi Threads, was incorporated in August 1983 as a private limited company and became a public limited company in March 1985 Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
