Draft to institutionalize Party guiding principles and State policies on completing special consumption tax policies.

The government plans to submit the Law on Special Consumption Tax for debate at the 15th National Assembly’s seventh sitting in May 2024 and for approval at the legislature’s 8th meeting in October.

The government basically concurs with seven groups of policies, including the completion of regulations on taxable subjects; non-special consumption taxable subjects; tax base; price for calculating special consumption tax; and special consumption tax refunds.

Concurrently, one of the significant requirements that the government set forth for the draft is to fully institutionalize Party guiding principles and State policies on completing special consumption tax policies, to adjust proper consumption towards protecting people’s health and environment and ensuring the adequate mobilization of resources for the State budget and being on par with tax reform efforts globally.

The government also asked the Ministry of Finance to thoroughly study the content, especially proposals related to additional subjects of special consumption tax, and changes to tax calculating methods, among others.

Source: VnEconomy

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