Vietnam: Increased social insurance, minimum wage | KPMG | GLOBAL

Vietnam: Increased social insurance, minimum wage amounts

Vietnam: Increased social insurance, minimum wage

Changes to the labour and compulsory insurance regulations in Vietnam reflect new policies introduced and effective generally beginning 1 January 2016. Some changes are effective later this year. The new policies and changes may result in increases to a company’s employment costs.


Related content

Among the changes that will affect employment costs in 2016 are the following:

  • An increase in the base amounts for social insurance, health insurance, and unemployment insurance contributions
  • An increase in the regional minimum wage and base salary amounts

Employers also need to consider the government’s stricter approach to enforcement and collection of social insurance and trade union fees. 


Read a January 2016 report [PDF 139 KB] prepared by the KPMG member firm in Vietnam: Key Changes in Labour and Compulsory Insurance Regulations from 2016    

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal