- Vietnam’s Special Consumption Tax (SCT) focuses on luxury items and non-essential products/services
- SCT is levied on 11 groups of goods and 6 groups of services in Vietnam
- Tax rates for specified products/services range from 7-150%
- Tax credits are available for SCT paid on raw materials and imported goods
- SCT serves as a revenue stream for the government and regulates consumption and production
- Understanding and complying with SCT is crucial for businesses in Vietnam’s dynamic market.
Source: vietnam.acclime.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
