Latest News

Showing 10 of 60 articles
  • by Reading Time: 3 minutes

    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.

  • by Reading Time: 3 minutes

    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[…..]

  • by Reading Time: 3 minutes

    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[…..]

  • by Reading Time: 4 minutes

    Vietnamese Visa Procedures Fall Short in ASEAN

    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 in attracting tourists, urges a recent Vietnam Business Forum report. Dec. 13 – Last week at the annual meeting[…..]

  • by Reading Time: 3 minutes

    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.

  • by Reading Time: 4 minutes

    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[…..]

  • by Reading Time: 5 minutes

    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[…..]

  • by Reading Time: 3 minutes

    Vietnam Looks to Relax Foreign Property Ownership Laws

    HANOI – Vietnam’s Ministry of Construction has recently proposed to relax its real estate laws in order to allow a greater amount of foreigners and foreign organizations to buy property in the country as part of an effort to reduce real estate inventory. Specifically, the Ministry proposed that organizations such as foreign investment funds, banks,[…..]

  • by Reading Time: 3 minutes

    Vietnam Issues New Decrees to Guide Labor Code

    The Vietnamese government recently issued five new decrees which are to help guide its Labor Code.

  • by Reading Time: 2 minutes

    New Issue of Vietnam Briefing: Human Resources for Foreigners

    In this issue of Vietnam Briefing, we take a look at foreign workers in Vietnam: how to hire, the legal obligations a company bears (including withholding and paying personal income tax and social insurance), and finally a common dilemma – the housing situation.

Showing 10 of 60 articles