Vietnam's National Assembly approved a tax increase on alcohol from 65% to 90% by 2031 as part of efforts to tackle excessive drinking. Rising alcohol consumption rates and struggles with drink-driving enforcement prompted this move. The alcohol industry is opposed to the increase, citing declining sales and potential boosts to the illicit market. Additionally, a new tax on sugary drinks will be implemented, with rates rising from 8% in 2027 to 10% in 2028. Deputy Prime Minister Le Thanh Long emphasized that the tax hikes are necessary for public health improvements.
The tax hike on alcohol from 65% to 90% by 2031 aims to curb harmful consumption habits and address rising alcohol consumption rates in Vietnam.
Despite being Southeast Asia's second-largest beer market, the alcohol industry faces declining sales and fears that higher taxes may boost the illicit market.
Lawmakers approved a new 8% tax on sugary drinks exceeding 5g/100ml of sugar, escalating to 10% in 2028, as part of public health measures.
Alcohol consumption in Vietnam rose significantly from 2.9 liters per person in 2005 to 7.9 liters in 2019, highlighting a growing public health concern.
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