Other Briefings
Vietnam’s State Social Insurance Fund
The administration of social insurance can be a complicated and confusing process for employers with operations in multiple countries. In this article, we explore social insurance in Vietnam in order to help clarify the key components of compliance in this country.
Proper Procedure for VAT Filing in Vietnam
In this article, we highlight the key components of Vietnam’s VAT system and outline the proper procedure for filing.
New Issue of Vietnam Briefing: A Guide to Understanding Vietnam’s VAT
In this issue of Vietnam Briefing, we attempt to clarify the entire VAT process by taking you through an introduction as to what VAT is, who and what is liable, and how to pay it properly. We first take you through the basics of VAT in Vietnam before taking you deeper into the topic.
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.
New Issue of Asia Briefing: Payroll Processing Across Asia
In Asia Briefing Magazine’s first issue of 2014, we provide a country-by-country introduction to how payroll and social insurance systems work in China, Hong Kong, Vietnam, India and Singapore. We also compare three distinct models companies use to manage their payroll across various countries with external vendors, and explain the differences among three main models: country-by-country, managed, and integrated models while highlighting some benefits and drawbacks of each.
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.
New Issue of Asia Briefing: The 2014 Asia Tax Comparator
In this issue, we examine the different tax rates in 13 Asian jurisdictions – the 10 countries of ASEAN, plus China, India and Hong Kong. We examine the on-the-ground tax rates that each of these countries levy as well as residency triggers, available tax incentives for the foreign investor, and important compliance issues.
Commercial Housing Receives VAT Incentive
HANOI – A new circular released by the Ministry of Finance will reduce the tax burden on the sale and lease of homes and apartments within Vietnam, providing a boost to the country’s commercial housing sector. Circular No. 141/2013/ND-CP will implement a 50 percent reduction in the value-added tax (VAT) applicable to the sale or […]
Introduction to Corporate Income Tax in Vietnam
HANOI – Many first and second tier suppliers, including small to medium-size enterprises, are prioritizing their investments into Vietnam, acting on the business potential that it holds for companies involved in a larger supply chain providing goods and services to manufacturing hubs in Asia. It is thus increasingly important to understand the taxes which Vietnam […]
Vietnam Tightens DTA Rules to Crack Down on Treaty Shopping
Vietnam has recently released a circular on anti-treaty shopping rules. This new circular amends the existing circular 133/2004, which was on the matter of double taxation agreements (DTA) with other countries. The new circular seeks to prevent companies from using the DTA as a way to circumvent taxation.
