The progress for submitting the Law on amendments to the Law on Excise Tax in Vietnam to be unified

The progress for submitting the Law on amendments to the Law on Excise Tax in Vietnam to be unified

The Government of Vietnam generally agrees with the contents received, explained, and revised in the dossier proposing the development of the Law on amendments to the Law on Excise Tax as per Submission No. 25/TTr-BTC dated February 06, 2024, of the Ministry of Finance and related documents, specifically:

- Research and do not yet include in Policy 5 of the Law proposal the new content regarding the method of mixed tax calculation for alcohol and beer products to ensure compliance with the Tax System Reform Strategy up to 2030 of the Prime Minister of the Government of Vietnam and Vietnam's commitments upon joining the WTO;

- The progress to submit the Law project is as follows:

(i) The Government of Vietnam submits to the National Assembly Standing Committee the proposal to include the Law project in the 2024 Law and Ordinance development program at the 7th session (May 2024);

(ii) The Government of Vietnam submits to the National Assembly for comments on the Law project at the 8th session (October 2024) and passes the Law project at the 9th session (May 2025).

The Ministry of Finance is assigned to complete the dossier proposing the development of the Law and submit it to the Ministry of Justice to carry out the procedures to submit to the National Assembly Standing Committee the proposal to include this Law project in the National Assembly's 2025 Law and Ordinance development program, adjusting the 2024 Law and Ordinance development program as provided by the Law on Promulgation of Legal Normative Documents.

Resolution 25/NQ-CP takes effect from February 27, 2024.

Clauses 1 and 2 of Article 1 of Resolution 25/NQ-CP replace the contents "develop the method of mixed tax calculation (percentage tax rate and absolute tax amount) for alcohol and beer according to the Tax System Reform Strategy up to 2030 of the Prime Minister of the Government of Vietnam, consistent with international tax reform trends" at points c and d of Clause 3, Section II of Resolution 115/NQ-CP dated July 28, 2023, regarding the Special Session on Law Development in July 2023.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE