Vietnam provides foreign businesses with a young, well-educated workforce and a relatively inexpensive workforce. Employers should have a basic understanding of human resource management. Many companies primarily rely on HR outsourcing entities, particularly for advice related to recruitment, training, and payroll. Many multinationals report that they would like to outsource more of their operational HR … Continued
Business Process Outsourcing
In Vietnam, as your business continues to grow, you will have to be responsible for more and more business functions. For startups and SMEs (small and medium enterprises) in particular, it’s sometimes challenging to keep up with these functions with only your in-house teams. They might not have the necessary expertise or present enough agility … Continued
A well-known fact for doing business anywhere in the world is that fulfilling tax obligations is absolutely mandatory, and is one of the most important elements to keep track of. Errors in tax filing and submitting can have severe financial and legal consequences. Vietnam, in particular, has a considerably complex tax structure, which might be … Continued
Employment of both local and foreign employees in Vietnam must be carried out in accordance with local labor regulations, minimum wage, social insurance, benefits, and more. For those companies looking to expand to Vietnam and build their team in the country, it is essential to understand the local labor codes and regulations. As Vietnam is still … Continued
Corporate income tax laws and compliance in Vietnam are often complex and time-consuming, and the regulations change quite frequently due to the fact that Vietnam is still developing its economy. Several lodgments may be required on an annual or quarterly basis based on your company’s industry, size and invoicing amount. Read More About Cekindo’s Corporate … 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
In a developing economy like Vietnam, it is challenging to get a hold of tax regulations, especially when they are revised frequently, which is to be anticipated given the country’s rapid economic growth.
With a thorough understanding of Vietnam’s regulatory tax landscape, Cekindo’s team of specialists provides the following range of tax advisory services.
The government of Vietnam released Decree No. 38/2022/NĐ-CP, announcing that from July 2022, the monthly minimum wage in Vietnam would increase by approximately 6% to 4,680,000 VND in urban areas. This new payroll regulation in Vietnam went into effect on July 1, 2022. If you are a foreign direct investor looking to set up in … Continued
Value Added Tax, or VAT, is one of the taxes that a consumer pays in Vietnam when they purchase goods and services for production, consumption, and trading. The VAT applies to goods and services purchased from foreign sources as well. However, there are exempted goods or services that attract lower VAT. Read More about Cekindo’s … Continued
With a bustling population of 99 million people, 51.6 million of whom belong to the capable labor force, and over 30 million of whom under the age of 35, Vietnam’s surprisingly young talent pool is the driving force behind the country’s resilient and sustainable economic growth. However, such a large job market is not without … Continued
As Vietnam presents a more and more open economy in order to attract foreign investment, the government has created some interesting tax incentives. These include paying no taxes for a certain period of the initial establishment in the country, involving tech-based industries, and investing in underdeveloped geographical areas of the country. Understanding and applying for … Continued
The personal income tax system in Vietnam can be challenging sometimes. Like most jurisdictions around the world, the Vietnamese tax system imposes special regulations on expatriates living and working in the country. As Vietnam’s economy has witnessed exponential growth over the last decade, the The personal tax system for foreigners living in Vietnam involves special … Continued