The individual income tax ranges from 5% to 35%. Income tax is calculated according to progressive rates. Multiple additional factors may impact overall rates such as the household status and the number of children.
Gross Annual Income | Tax Rate (%) |
---|---|
Up to VDN 60,000,000 | 5% |
Up to VDN - 120,000,000 | 10% |
Up to VDN 216,000,000 | 15% |
Up to VDN 384,000,000 | 20% |
Up to VDN 624,000,000 | 25% |
Up to VDN 960,000,000 | 30% |
Over VDN 960,000,000 | 35% |
The employer's cost is 23.5% of the employee's salary.The maximum monthly salary for the calculation of the social insurance, health insurance, and control union fee is VND 36,000,000.
The maximum monthly salary for the calculation of the unemployment insurance contribution is 20 times the monthly minimum wage of the employee’s region of residence (up to VDN 93,600,000).
Standard working hours are 8 hours per day, 40 hours per week. The standard workweek is from Monday to Friday.
Overtime payment is mandatory. Hours outside of standard work hours are considered overtime. Employees can work no more than 12 hours a day, including normal and overtime hours. For overtime hours, employees are paid: