Vietnam increases minimum prices for cigarettes

Vietnam’s Ministry of Finance through its Decision No. 70/QD-BTC signed on 08 January 2016 has stipulated increases for minimum prices of domestic cigarette products.

The minimum price of cigarettes increased from 4,050 VND (USD 0.18) to 4,390 VND (USD 0.20) per pack for hard cover cigarettes and from 3,450 VND (USD 0.15) to 3.860 VND (USD 0.17) per pack for soft cover cigarettes.

Above prices are the selling prices of the businesses, including excise taxes and compulsory contributions to the tobacco control fund, not excluding value-added tax; each pack has 20-stick of cigarettes.

The prices of cigarettes set by tobacco manufacturing and trading enterprises should not be lower than the minimum price stipulated by the Ministry of Finance.

In case they sell their products below the minimum price specified in the decision, they shall be dealt with accordingly by the law.

Decision No. 70/QD-BTC started to take effect 15 January 2016.

Click for details of Decision No. 70/QD-BTC