Tobacco manufacturers and importers in Vietnam must contribute excise tax-liable prices of 1% from May 1, 2013

16:33, 25/06/2012

This is a notable content of the Law on Tobacco Harm Prevention, issued by the National Assembly of Vietnam on June 18, 2012.

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Cơ sở sản xuất, NK thuốc lá phải đóng góp 1,0% thuế tiêu thụ đặc biệt từ 2013, Luật phòng chống tác hại của thuốc lá 2012

According to Article 30 of the Law on Tobacco Harm Prevention of Vietnam, the fund for prevention of tobacco harms is established from the following sources:

- Compulsory contributions of tobacco manufacturers and importers, which are calculated in a percentage of the excise tax-liable prices according to the following roadmap: 1% from May 1, 2013; 1.5% from May 1,2016; and 2% from May 1,2019. These compulsory contributions must be declared and paid together with excise tax, and be declared, assessed and paid into the fund's account by tobacco manufacturers or importers;

- Donations and voluntary contributions of agencies, organizations and individuals at home and abroad;

- Other lawful revenues.

Besides, the fund is used on the following principles:

- The fund is used only for the tasks specified by law and administrative costs;

- The expenditures of the Fund are based on its annual plans of activities, short-term and long-term programs and strategies and priority objectives for each period, as approved by the Inter-Sector Management Council;

- The fund is audited annually in accordance with law;

- Openness and transparency;

- Assured effective use of its financial sources;

- The administrative costs comply with regulations of the Prime Minister.

View more details at the Law on Tobacco Harm Prevention of Vietnam, officially effective from January 01, 2013.

Ty Na

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