VIETNAM RAISES TAXABLE INCOME THRESHOLD 22 PCT
Vietnam’s lawmakers have approved a proposal to increase the minimum taxable income threshold by 22 percent to VND11 million ($479) starting July 1. This means that a person with an income of less than VND11 million per month will not have to pay personal income tax. The current threshold is VND9 million ($392).
WORKERS ARE RETURNING TO WORK, FOR NOW
Some 70,000-80,000 workers across the country have returned to work since the mass disruption caused by the novel coronavirus in Việt Nam, said Deputy Minister of Labour, Invalids and Social Affairs (MOLISA) Lê Văn Thanh at an online conference held on Wednesday to discuss and share experience in job creation and sustainable business in the new normal [after COVID-19].
LABOUR MINISTRY SEEKS ENTRY FOR 8,500 FOREIGN EXPERTS
The Ministry of Labour, Invalids and Social Affairs wants the Government to lift a ban and allow on a priority basis for 8,459 highly skilled foreign workers – out of the thousands who have been kept out – to enter Việt Nam since it has been difficult to find replacements for them.
SOCIAL INSURANCE PAYMENT EXTENDED FOR COVID-19 AFFECTED BUSINESSES
The Ministry of Labor, Invalids and Social Affairs recently delivered an official dispatch to the Vietnam Social Security (VSS), allowing a temporary halt in payments to the retirement and death allowance fund by businesses adversely hurt by the Covid-19 epidemic.
NEW LABOR CODE: RETIREMENT AGE WILL BE INCREASED TO 62 FOR MEN, 60 FOR WOMEN
An employee whose working capacity is reduced or subject to extremely heavy, dangerous, or hazardous working conditions, or working at disadvantaged areas may retire sooner but not five years less than the regulations, unless otherwise provided by laws.
BALANCING BENEFITS BETWEEN EMPLOYEES AND EMPLOYERS
Numerous opinions on the draft Labor Code from specialists, businesses and associations have been collected by the Vietnam Chamber of Commerce and Industry (VCCI) to submit to the Government.
MINIMUM REGIONAL WAGE HIKE FOR 2020 SET AT 5.5%
Specifically, the minimum wage in Region 1 comprising more developed localities rose by VND240,000 to VND4.42 million per month, while that in Region 2 was hiked by VND210,000. The lowest wages in Regions 3 and 4 picked up by VND180,000 and VND150,000, respectively, according to Nguoi Lao Dong newspaper.
ONE-TIME SOCIAL INSURANCE CASES APPLIED TO FOREIGN WORKERS
According to Government Decree 143/2018/ND-CP issued on October 15, 2018 and put into force on December 1, 2018, providing details on enforcement of compulsory social insurance for foreign workers working in Vietnam under the Law on Social Insurance and the Law on Occupational Safety and Health. There are four cases that foreign workers are entitled to receive one-time social insurance.
