VIETNAM May 2019
Vietnam likely to impose Excise Tax on Soft Drink
Despite negative feedback from businesses over the past year, it is likely that the special consumption tax rate on soft drinks will stay at the proposed 10% in the latest draft of the revised law on the tax.
The tax imposition is expected to lead to higher prices and a potential drop in consumption. It may also lead to the creation of alternative products to evade laws and meet consumption needs.
One of the main reasons for the tax is to meet shortfall in state budget revenue. The high consumption of sugary drinks could bring in considerable revenue for the budget.
The draft law is expected to affect 9,000 small- and medium-sized enterprises in the fields of materials, packaging and transport. In addition, the new tax might also create obstacles for foreign firms to invest in the country.



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