Other Briefings
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.
Vietnam’s Middle Class the Fastest Growing in Southeast Asia
HANOI – In a recent survey by the Boston Consulting Group (BCG), Vietnam was found to have the fastest growing middle class in Southeast Asia. By 2020, the country is expected to have 30 million middle class and rich consumers. Vietnam’s per capita income is expected to increase to US$3,000 by 2020 from its current […]
Vietnam’s Burgeoning Middle Class set to Double
HANOI – A recent survey conducted by the Boston Consulting Group (BCG) has found that the middle and affluent class (MAC) in Vietnam will greatly increase in size between now and 2020, from 2 million to 33 million. In order to project the growth of consumers and their spending, BCG’s Center for Consumer and Customer […]
Vietnamese Visa Procedures Fall Short in ASEAN
For the most up to date information on Vietnam’s visa program see: Vietnam’s Visas and Work Permit Procedures 2022 By Marcelo Giovannetti Despite recently receiving aid package approval from the Asian Development Bank (ADB) for its tourism industry, Vietnam will have to improve its visa procedures if it wishes to compete against other ASEAN countries […]
Vietnam Set to Increase Minimum Wages from December 31, 2013
The government last week passed a new decree that will increase minimum wages throughout Vietnam as of December 31, 2013, which will be effective for enterprises, co-operatives, household businesses, foreign companies and international organizations operating in the country.
Personal Income Tax in Vietnam: Tax Exemption, Reduction & Payment
HANOI – As major businesses continue to prioritize investment into Vietnam as a strategy to diversify sourcing options and supplier portfolios outside of China, it is increasingly important to understand not only how businesses are taxed in Vietnam, but also individuals. Continuing our coverage of personal income tax (PIT), this article will examine exemptions, reductions […]
ASEAN’s Rising Minimum Wage Levels: Vietnam
By Alex Tangkilisan HANOI – Several ASEAN countries have raised their minimum wage standards recently to adjust their respective salary levels to the rising costs of living and to provide their citizens with higher purchasing power. However, many businesses and investors have complained that the somewhat drastic wage hikes have hurt the market in terms […]
