NA passes amended laws on corporate income tax, excise tax
452 lawmakers, or 94.56% of the total number of deputies present, voted in favour the revised Law on Corporate Income Tax, while the amended Excise Tax Law was adopted with 448 out of 454 deputies present voting in favour, accounting for 93.72% of the total.
NA passes amended laws on corporate income tax, excise tax (Photo: VNA)
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 a♎nn𒅌ually to 60% by 2031./.
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.
In its proposal, the Government recognised the death penalty provisions in the current law prove several inadequacies. Specifically, the penalty ranges, spanning 20 years’ imprisonment to life sentence or death penalty, is rather broad, making the application challenging.
The morning session will begin with presentations of proposals and verification reports on the draft law amending and supplementing several provisions of the law on the Vietnam Fatherland Front, the trade union law, the youth law, and the law on grassroots democracy implementation.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
The ministry has instructed Vietnamese representative agencies in Israel, Iran, as well as those in neighbouring countries, to closely monitor the situation and request local authorities to ensure absolute safety for Vietnamese citizens living, studying, and working in high-risk areas.
Senior Vietnamese leaders on June 19 sent letters of congratulations to New Zealand leaders on the occasion of the 50th founding anniversary of Vietnam – New Zealand diplomatic relations (June 19, 1975 – 2025).
The Party chief attributed the achievements in the first half to the continuous, direct, and comprehensive leadership of the Politburo and the Secretariat of the Party Central Committee, and the close and effective coordination of relevant ministries, sectors and localities.
General Nguyen Tan Cuong, Chief of the VPA’s General Staff and Deputy Minister of National Defence reaffirmed Vietnam’s unwavering gratitude for Cuba’s invaluable support during its struggle for independence and nation-building efforts, and pledged to stand shoulder-to-shoulder with Cuba as it navigates current challenges.
Vietnam is a country with which Russia shares a special relationship. In the 1950s and 60s, particularly during Vietnam’s struggle for independence, the two countries forged a deep bond. While much has changed over time, the friendship and cooperation between our nations have endured, said Russian President Vladimir Putin.
For 50 years, Vietnam and New Zealand have worked together to uphold peace and prosperity for their peoples and the region. The friendship, cooperation, and mutual understanding Vietnam and New Zealand nurtured have grown from a seed into a deeply rooted, strong, and thriving tree, she stressed.
Since the Strategic Partnership was established in 2020, Vietnam and New Zealand have witnessed steady growth in the relations. Beyond the remarkable 40% increase in bilateral trade over five years, political relations and multilateral interactions, particularly within the CPTPP framework, have remained highly positive.
Known as the “four pillars for Vietnam’s ascend”, the Pobiburo's Resolutions 57, 59, 66, and 68 focus on cultivating a robust national entrepreneurial spirit, unlocking resources for innovation across society, and accelerating the development of digital economy, knowledge-based economy, green economy, and circular economy, propelling Vietnam forward rapidly and firmly on the path of modernisation and international integration.
Minister of Finance Nguyen Van Thang cleared up deputies' concern regarding how to spur socio-economic growth, renew traditional growth motives and establish new momentum for development.
Vietnam proposed several priorities: narrowing the digital divide, strengthening women’s leadership in the digital economy and AI governance, and mobilising sustainable financing for gender equality initiatives in line with each country’s national priorities and context. Vietnam also advocated for genuine women’s participation and leadership across all areas of public life.
