It’s the time for both employee and employer to make 2011 PIT Finalization in March 2012. General Department of Taxation issued Official Letter 230/TCT-TNCN on January 17, 2012 in supporting and guiding 2011 PIT finalization pursuant to Circular No. 84/2008/TT-BTC dated September 30, 2008 of Ministry of Finance, Circular No. 62/2009/TT-BTC dated March 27, 2009, Circular No. 02/2010/TT-BTC dated January 11, 2010, Circular No. 28/2011/TT-BTC dated February 28, 2011, and Circular No. 154/2011/TT-BTC dated November 11, 2011, as the following: » Learn more...

1. Uniform expense in cash or in kind to employees is not exceeding 5,000,000 VND/employee/year according to Circular No. 18/2011/TT-BTC dated February 10, 2011 by The Ministry of Finance. The maximum spending for the uniform is also applied to personal income tax (PIT) when determining tax income. » Learn more...

Pursuant to Social Insurance Law No. 71/2006/QH11, Health Insurance Law No. 25/2008/QH12, and decrees and circulars on Social Insurance and Health Insurance Law, on October 25, 2011, Government issued Resolution No. 1111/QD-BHXH on collecting management of Social Insurance, Health Insurance, Social Insurance Book, and Health Insurance Card. There are 3 important points that you should pay attention: » Learn more...

According to Item a, Article 7, Section D, Circular No. 03/2007/TT-BLDTBXH dated January 30, 2007 of Ministry of Labor - Invalids and Social Affairs and Document No. 519/TB-NHNN of State Bank of Vietnam dated December 30, 2011 on the inter-bank average foreign exchange rate of VND versus USD in January 03, 2012, the foreign exchange rate for salary conversion from USD into VND in the first half of 2012 is 20,828 VND/USD (the rate applied for the 2nd half of 2011 was 20,618 VND/USD). This rate will be applied to calculate the payment of salary, wage, social insurance, health insurance, and unemployment insurance for labor contracts signed in the foreign currency.

On November 11, 2011, The Ministry of Finance issued Circular No. 154/2011/TT-BTC giving of Decree No. 101/2011/ND-CP dated November 04, 2011 which provide the detailed implementation of Resolution No. 08/ 2011/QH13 issued by the National Assembly on additional issuance of some tax solutions in reducing difficulties for enterprises and individuals. This Circular takes effect from December 26, 2011. » Learn more...