Hanoi (VNA) - The 15th National Assembly voted to pass the revised Law on Corporate Income Tax and the amended Excise Tax Law on June 14 morning, as part of its ongoing 9th session.
Specifically, 452 lawmakers, or 94.56% of the total number of deputies present, voted in favour the revised Law on Corporate Income Tax.
Notably, under this amended law, funding received for scientific development is exempt from corporate income tax, but excluding cases where the sponsorship is received from affiliated enterprises.
Meanwhile, the legislature passed the amended Excise Tax Law with 448 out of 454 deputies present voting in favour, accounting for 93.72% of the total.
According to the new law, air conditioners with a capacity between 24,000 and 90,000 BTU will be subject to excise tax. Those outside this range—either below 24,000 BTU or above 90,000 BTU—will be exempt.
Sugar-sweetened beverages will also be taxed if they exceed 5 grams of sugar per 100 millilitres, following Vietnamese standards for beverages. Exemptions include milk and dairy products, natural fruit juices, coconut water, and liquid foods used for nutritional purposes.
The law also imposes an absolute rate on cigarettes, starting at 2,000 VND (0.08 USD) per pack in 2027, increasing by 2,000 VND annually until reaching 10,000 VND in 2031.
Alcohol and beer will also face gradual tax hikes. For alcohol with 20% alcohol by volume or more, and for beer, the rate will start at 65% in 2026, increasing by 5% annually to 90% by 2031.
For alcohol under 20%, the rate will begin at 35% in 2026, rising annually to 60% by 2031./.
National Assembly continues to discuss draft laws, resolutions on May 29
The bill contains three articles, focusing on two major policies – one to relax the conditions for acquiring Vietnamese nationality, aiming to facilitate cases where an individual has a biological father, mother, paternal or maternal grandparents who are Vietnamese citizens; as well as investors, scientists, and foreign experts who wish to acquire Vietnamese nationality.
