People enjoying a night out in Hanoi. Vietnam's Finance Ministry has proposed to hike a special consumption tax on alcoholic drinks to 100% by 2030. - Photo from Vietnam News/ANN
HANOI (Reuters): Vietnam's Finance Ministry has proposed to hike a special consumption tax on alcoholic drinks to 100% by 2030, the ministry said, a move that may further hurt the country's beverage industry.
Under the draft proposal which is pending lawmakers' approval, the special consumption tax on beer and strong liquor will be raised to 70%-80% by 2026 and gradually increase it to 90%-100% in 2030, compared with the current 65%.
