Personal Income Tax Planning when Employing Foreign Experts in Vietnam.

Continuing our ongoing client seminar series*, where we focus on practical compliance and operational issues for businesses in Vietnam, we will host our next in person seminar in July covering “Personal Income Tax Planning when Employing Foreign Experts/Individuals in Vietnam”.

When assisting businesses, we have observed numerous instances of uncertainty and issues relating to PIT obligations regarding the employment of foreigners in Vietnam

• How to plan and estimate payable PIT amount to authorities when companies employ foreigners (after obtaining a Work Permit)?
• What elements impact the PIT calculations?
• How to structure salaries, allowances and benefits to make tax efficient?

These are some of the common questions from both employers and foreign employees when dealing with the onboarding process. In this seminar, we will address all of the above questions and help you to understand PIT obligations in Vietnam, creating a strong foundation for being compliant whilst ensuring an effective PIT optimisation and avoiding pitfalls.

Seminar outline

The seminar will go through the following areas:

Brief of PIT obligations on employment income for foreigners in Vietnam

• How to determine tax residency status
• Notable non-taxable income
• Deductions (dependents, self-relief, and statutory insurances)
• Applicable tax rates on scenarios
• Scope of taxable income determination
• PIT declaration obligations (company’s obligations or self-declarations)
• Annual PIT finalisation

Planning and structuring to make the PIT efficient

• Maximising deductions and allowances
• Timing income and expenses payments
• Taking advantage of tax treaties
• Investing in tax-efficient products

Presented language: English

*This seminar is part of an ongoing series designed exclusively for our clients to provide helpful knowledge and practical insights for international investors in Vietnam, covering key areas that we often see our clients and other companies have difficulties with.