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The personal tax system for foreigners living in Vietnam involves special tax rates, calculations, and procedures. These calculations and procedures can be much more difficult for you to comprehend if you do not have specialized knowledge. It means that this kind of tax system for expatriates requires expert guidance to navigate. This guide clarifies the … Continued
Vietnam has always managed to attract foreign investors because of its great geological location and its dynamic young workforce. That is why attracting foreign investors has been of key importance in Vietnam’s External Affairs Policy. It is one of the main reasons why Vietnam has various easier Tax and Compliance Laws to create a seamless … Continued
Decree No. 38/2022/NĐ-CP will impact people working in major cities such as Ho Chi Minh City and Hanoi. Essentially, it announces an approximate 6% increase in the minimum monthly wage for these urban areas, raising it to 4,680,000 VND. This new payroll regulation in Vietnam entered effect on July 1, 2022. If you are a foreign … Continued
Value-Added Tax, or VAT (Thue Gia tri Gia tang – GTGT) in Vietnam, is imposed on the value added to the goods or services at each production stage, from raw materials to manufacturing to distribution to end consumers. The VAT applies to goods and services purchased from foreign sources as well. However, there are exempted … Continued
Vietnam’s impressively young professional workforce drives the country’s economic growth. The country is host to a booming young population of over 100 million people, out of which 51.6 million are employed. Moreover, more than 30 million Vietnamese are below the age of 35. According to the General Statistics Office, there were 45 million people of … Continued
If you need skills that are in short supply in Vietnam, or when you would like to gain new ideas and technologies, your business can reap the benefits of employing talents from overseas. When it comes to employment in Vietnam, a company would like to recruit foreign employees or partners, they need to follow certain … Continued
In order to combat rising inflation rates as well as consequences of the Russia-Ukraine war such as supercharged gas prices, the Vietnamese government has issued Decree 38/2022/ND-CP for statutory minimum wage adjustments. The Prime Minister, working alongside the Ministry of Labor, War Invalids and Social Affairs, has just announced this change during a dialogue program … Continued
Understanding the local labor laws is essential for recruitment in order to be compliant when you hire and pay people while doing business in Vietnam. Furthermore, understanding the market in order to know your opportunities and expected challenges ensures a more smooth integration. This article’s aim is to assist you in becoming familiar with the … Continued
As Vietnam’s business landscape rapidly expands, it becomes increasingly important for business owners and employers to navigate payroll obligations, including employee insurance. In this article, we delve into Vietnam’s employee insurance system, specifically exploring the different types of insurance commonly known as SHUI – Social, Health, and Unemployment Insurance. Read About InCorp Vietnam’s Payroll Outsourcing … Continued
Today, businesses can source talent from various locations, including outside of their own country. This has opened up opportunities for businesses to access quality work and specialized skill sets from around the world. As a prime example, offshore software development involves outsourcing development operations to a partner in a different time zone than the company’s … Continued
Keeping up to date with the latest payroll obligations is a key element in running your business operations smoothly and compliantly in Vietnam. However as with any emerging marketing, with the pains of growth comes regular updates to the legal system, including that of payroll obligations, insurance, minimum wage, and more. Latest payroll updates to … Continued
A compliance consultant in Vietnam ensures that a business adheres to governmental regulations and standards. These consultants can work in various industries, such as banking, insurance, health, or oil, but typically have specialized knowledge in a specific area. They are usually tasked with identifying compliance concerns, implementing measures to mitigate risk, training employees, and handling … Continued
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