Vietnam’s official guidance on compulsory social insurance for foreigners started on 1 December 2018.
GBS - Expats unfamiliar with the work permit process in Vietnam need only speak to a fellow foreigner working in the country to learn that applying for and obtaining this crucial document comes with more mysteries than a Sherlock Holmes adventure.
GBS - All visas, from tourist to business, need to be applied for before arriving in Vietnam. Some employers are able to arrange for your visa to be presented to you upon arrival at one of Vietnam’s international airports. Employers will usually sponsor your visa.
What’s the difference between hiring an independent contractor and an employee?
As an employer, this distinction can determine how much oversight you’re committing to and what taxes you’ll be obligated to pay. Typically, independent contractors have far more freedom in how and when they operate and are hired on a job to job basis. They also usually bring their own materials. When you hire an independent contractor you’re usually not required to pay the employer’s share of Social Security, Medicare, and unemployment taxes.
Vietnam personal income tax rates are progressive to 35%. Nonresidents are taxed at a flat tax rate of 20%. Non-employment income is taxed at rates from 0.1% to 25%.
GBS - As a result of integration and AEC 2015 in the near future, Vietnam, a potential market, is attracting more and more foreign workers. Any foreigners who want to work in Vietnam are obliged to apply for work permits issued by the Vietnam’s Department of Labour, Invalid and Social Affairs. The procedures for obtaining or renewing work permits which require many steps and a number of documents may confuse those who live abroad and have little knowledge about Vietnam’s Labour Law for foreigners. For this reason, many travel agents, law firms in Vietnam are willing to provide you with their work permit services. Are those services necessary? What should you prepare when using work permit services? Below are things you may wish to know more.