5 Common Agreements that Every Business in Vietnam Needs to Know

In the multifaceted landscape of business transactions and activities in Vietnam, safeguarding the rights of investors is paramount. Vietnam’s business environment is a complex web of diverse dealings, each with its unique characteristics. In this context, common agreements and contracts play a pivotal role in establishing legal frameworks to uphold the interests and responsibilities of … Continued

Accounting Outsourcing Service in Vietnam: The Pros and Cons

Accounting tasks hold a vital position within a business, thus they need to be held sufficiently in order to sustain the company. Handling accounting services can be a challenging task because there are so many things to consider, such as managing payroll, accounts receivable, and accounts payable. Therefore, the perfect solution to focus on the … Continued

[2023 Update] Upcoming Deadlines for Tax Reporting and Corporate Compliance in Vietnam

Vietnam has seen a remarkable rise in the number of new businesses registered in recent years. Especially, in July 2023, the entire country witnessed the establishment of 13.7 thousand new businesses with a registered capital of nearly VND 126.9 trillion. Compared to the same period last year, this represents an increase of 4.3% in the … Continued

Personal Income Tax (PIT) for Foreigners in Vietnam: Your Easy Guide

The personal tax system for foreigners living in Vietnam involves special tax rates, calculations, and procedures. These calculations and procedures can be much more difficult for you to comprehend if you do not have specialized knowledge. It means that this kind of tax system for expatriates requires expert guidance to navigate. This guide clarifies the … Continued

Regulations on Reductions and Exemptions for Personal Income Tax (PIT) in Vietnam

Vietnam has always managed to attract foreign investors because of its great geological location and its dynamic young workforce. That is why attracting foreign investors has been of key importance in Vietnam’s External Affairs Policy. It is one of the main reasons why Vietnam has various easier Tax and Compliance Laws to create a seamless … Continued

Payroll 2023: Latest Minimum Wage Increase in Vietnam

Decree No. 38/2022/NĐ-CP will impact people working in major cities such as Ho Chi Minh City and Hanoi. Essentially, it announces an approximate 6% increase in the minimum monthly wage for these urban areas, raising it to 4,680,000 VND. This new payroll regulation in Vietnam entered effect on July 1, 2022. If you are a foreign … Continued

Your Guide to Value-Added Tax (VAT) in Vietnam for 2023

Value-Added Tax, or VAT (Thue Gia tri Gia tang – GTGT) in Vietnam, is imposed on the value added to the goods or services at each production stage, from raw materials to manufacturing to distribution to end consumers. The VAT applies to goods and services purchased from foreign sources as well. However, there are exempted … Continued

Characteristics of Vietnam’s Workforce: High Demand Skills and Advice for Business in 2023

Vietnam’s impressively young professional workforce drives the country’s economic growth. The country is host to a booming young population of over 100 million people, out of which 51.6 million are employed. Moreover, more than 30 million Vietnamese are below the age of 35.  According to the General Statistics Office, there were 45 million people of … Continued

Tax Incentives in Vietnam: A Comprehensive Guide for Foreign Companies (2023 Update)

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

Insider Tips for Foreign Employees and Employers in Vietnam

If you need skills that are in short supply in Vietnam, or when you would like to gain new ideas and technologies, your business can reap the benefits of employing talents from overseas. When it comes to employment in Vietnam, a company would like to recruit foreign employees or partners, they need to follow certain … Continued