Vietnam Eyes Cigarette Tax Increase to Snuff Out Smoking Rates
Vietnam’s revised Law on Excise Tax is expected to be passed in May next year, with a key focus on curbing the deadly smoking habit in the country. According to statistics from 2021, Vietnam has a significant smoking population, with over 15 million smokers consuming up to four billion packs of cigarettes annually. The issue is not just limited to the high number of smokers but also the alarming rate of cigarette production. In 2023 alone, local manufacturers produced 5.3 billion packs of cigarettes, contributing to a growing number of health issues in the country. Medical experts have raised concerns about the serious public health impact of smoking, and increasing excise taxes on cigarettes is seen as a crucial step in addressing this challenge. By making smoking a more expensive habit, the government aims to deter people from starting or continuing this harmful practice. Addressing the Issue of Low-Cost Cigarettes Currently, the excise duty on tobacco in Vietnam is set at 75% of...