Vietnam Tax Alert 2016/Issue 1

Vietnam Tax Alert 2016/Issue 1

Key changes in labour and compulsory insurance regulations from 2016 – Impact on employment costs

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2016 is a pivotal year with considerable changes in labour and compulsory insurance regulations in Vietnam, with various new policies introduced and effective from 1 January 2016 or later this year. The new policies may lead to a significant increase in your company’s employment costs. As such, how to manage employment costs efficiently from 2016 and beyond should therefore be amongst the top priorities on the business agenda of companies. In this Tax Alert, we outline the key changes that will impact employment costs.

  1. Increase in base for Social Insurance/ Health Insurance/ Unemployment Insurance contributions
  2. Increase in the regional minimum wage and base salary further adds to increasing the base for Social/Health and Unemployment Insurance contributions
  3. Other noteworthy update

Tax Alerts

Summaries of the latest tax developments being reported by KPMG Vietnam.

 
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© 2017 KPMG Tax and Advisory Limited, a Vietnamese limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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