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Full compliance with regulations in host countries can reduce bureaucratic processes and penalties, demonstrate a commitment to development, and help establish a positive workplace for employees. One notable point of ongoing compliance when doing business in Vietnam is contributing Social Insurance (SHUI) on monthly basis once the employment is officially engaged via employment contract. Compulsory […]
Labor contract means an agreement between an employee and an employer on paid work, on wages [salary, remuneration], on working conditions, and on the rights and obligations of each party to the labor relationship. A legal labour contract generally includes four primary components: Employment Salary, wage, or remuneration Management and supervision Employment cost Employment term […]
Full compliance with regulations in host countries can reduce bureaucratic processes and penalties, demonstrate a commitment to development, and help establish a positive workplace for employees. One notable point of ongoing compliance when doing business in Vietnam is contributing Social Insurance (SHUI) on monthly basis once the employment is officially engaged via employment contract. Compulsory […]
Obtaining Work Permit (WP) is an essential step for the enterprise which have foreign labor recruitment. Based on the particular requirement of each position, the enterprise is liable to choose appropriate position/ role and register it with Vietnam authority prior employment. By having Work Permit, the expatriate is allowed to work officially for Vietnam-based enterprise. […]
PERSONAL INCOME TAX FINALIZATION Deadline for Personal Income Tax (PIT) is within 90 days from ending of calendar year, i.e 30 March is latest for the employer to submit PIT finalization returns, regardless of registered fiscal year of the Company. The employee who satisfy certain condition, are eligible to authorize the employer to undertake PIT […]
Personal Income Tax (PIT) is withheld from the income earned by the employee in Vietnam from providing works under labor contract or agreement. TAX RESIDENT STATUS Tax residence status plays a key role in determining PIT applicable rate when calculation for taxpayer in Vietnam. Tax resident is the individual residing in Vietnam more than 183 […]