Other Briefings
Vietnam’s Minimum Wage Increases
The Vietnamese government has issued a decree to increase the country’s minimum salary by between VND250,000-VND400,000 (US$12-$19) starting January 1, 2015. This will bring the wage floor to between VND2.15 million-VND3.1 million ($101.4-$146.2) depending on the region.
Navigating Personal Income Tax in Vietnam
Paying Personal Income Tax (PIT) is one of the key financial obligations that employers and employees have in Vietnam. In this article, we attempt to clarify some of the key regulations and tax rates involved with the payment of PIT.
PIT Update: Vietnam Implements 50 Percent Reduction in Personal Income Tax for Individuals Working in Economic Zones
On October 20, 2014, Vietnam implemented a 50 percent reduction in personal income tax (PIT) for individuals who are working in the country’s economic zones. The recent tax change was outlined in the Ministry of Finance’s Circular 128/2014/TT-BTC, replacing Circular 176/2009/TT-BTC.
Understanding How to Hire and Pay Staff in Vietnam
Having a clear understanding of how to hire and pay your employees in Vietnam is crucial to ensuring your company’s success. In this article we take you through the regulations surrounding the hiring of employees and provide a discussion on wages.
A Guide to Understanding HR Trends in Vietnam
Once a company has gone through all the legal procedures required for the establishment of their business in Vietnam, the next big hurdle is the process of actually hiring the staff that will be needed and dealing with the associated payroll obligations. Hiring, and the associated legal obligations that go along with it, can be a confusing process. It is therefore strongly recommended that businesses take a careful look at all relevant regulation and engage a professional where appropriate to ensure proper compliance with all laws.
Social Security in Vietnam: Understanding Your Obligations
One of the key obligations that an employer has in Vietnam is the payment of social security. In order to ensure smooth operations while in the country, it is crucial that foreign companies ensure that they fully understand the legal framework which provides for the rights and obligations of employers and employees with respect to social security.
Foreign Companies Report Labor and Skills Shortage in Vietnam
Despite a still recovering economy, demand for workers in Vietnam is seeing strong growth. However, supply and skills have not kept up with this increasing need.
Vietnam Could Loosen Work Permit Rules for Foreigners
On July 8, 2014, after intense criticism from the expat community and foreign businesses, the Vietnamese government issued Resolution 47, which is intended to improve the work permit conditions for foreigners working in Vietnam.
Vietnam Rolls Out New Online Visa Processing System
Vietnam has brought out a new online Visa processing system. Foreigners will now be able to register and fill out visa application forms online. The official website can be found at: http://visa.mofa.gov.vn.
Personal Income Tax Withholding in Vietnam
In Vietnam, Personal Income Tax (PIT) declaration and payment is carried out on a withholding basis. Employers are required to collect taxes on employee income for both foreign and local Vietnamese employees, and ensure the timely submission of employees’ tax declarations.
