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Benefits

Employee’s Social Insurance in Vietnam

Three types of employee insurances available in Vietnam:

  • Health insurance (HI)
  • Social insurance (SI)
  • Unemployment insurance (UI)

Types

Employer

Employee

Total

Social insurance (SI)

17.5%

8%

25.5%

Health insurance (HI)

3%

1.5%

4.5%

Unemployment insurance (UI)

1%

1%

2%

Total :

23.5%

10.5%

34%

 

Compensation Benefits

Social insurance law brings benefits for both local and foreign employees, including compensations for occupational diseases, maternity leave, sick leave, accidents, death and retirement.

Besides, a one-off pension payment will be granted to foreign workers when they leave Vietnam. However, foreign workers are excluded from the unemployment insurance benefit.

 

Personal Income Tax (“PIT”)

Tax Deductions Tax deductions include:

  1. Employee contributions to mandatory social, health and unemployment insurance schemes;
  2. Contributions to local voluntary pension schemes (subject to a cap);
  3. Employee contributions to certain approved charities;
  4. Tax allowances:
  • Personal allowance: VND9 million/month;
  • Dependent allowance: VND3.6 million/month/dependent. The dependent allowance is not automatically granted, and the taxpayer needs to register qualifying dependents and provide supporting documents to the tax authority.

PIT Rates Residents - employment income

Annual Taxable Income

(million VND)

Monthly Taxable Income

(million VND)

Tax rate

0 – 60

0 – 5

5%

60 – 120

5 – 10

10%

120 – 216

10 – 18

15%

216 – 384

18 – 32

20%

384 – 624

32 – 52

25%

624 – 960

52 – 80

30%

More than 960

More than 80

35%

 

Administration Tax codes

Individuals who have taxable income are required to obtain a tax code. Those who have taxable employment income must submit the tax registration file to their employer who will subsequently submit this to the local tax office. Those who have other items of taxable income are required to submit their tax registration file to the district tax office of the locality where they reside.

Tax declarations and payment

For employment income, tax has to be declared and paid provisionally on a monthly or quarterly basis by the 20th day of the following month or by the 30th day of the month following the reporting quarter, respectively. The amounts paid are reconciled to the total tax liability at the year-end. An annual final tax return must be submitted and any additional tax must be paid within 90 days of the year end.

 

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