Vietnam Wants to Raise Tobacco Taxes

Vietnam's finance ministry aims to increase excise duties on cigarettes by proposing new tax structures to improve public health. Currently, the excise duty stands at 75% of the factory price, significantly lower than in Singapore and Thailand. The ministry's proposals include maintaining the current rate while introducing an additional tax per pack, set to increase over the years to a maximum of VND10,000 ($0.43) by 2030. With over 42% of adults in Vietnam smoking, these measures highlight the government's effort to curb tobacco use and align local taxation with regional standards. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: Tobacco Reporter