Draft changes to Special Consumption Tax
Vietnam’s National Assembly (Parliament) is expected to consider and approve increases to the Special Consumption Tax on 8 June 2024. Based on deliberations to date, for most wine this will likely lead to an increase in the ad valorem rate of tax from 35% to 45% from 1 January 2026.
A drafting committee was established by the Vietnamese Government on 10 May with a detailed draft of the changes to be issued around July/August 2024. We have been working with Australian Agricultural Counsellors in Hanoi as well as local industry stakeholders to continue to advocate for a delay in the proposed new changes until 2027.
