Vietnam Tax Tables 2024 - Tax Rates and Thresholds in Vietnam

This page contains the tax table information used for the calculation of tax and payroll deductions in Vietnam in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ VN, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Vietnam or would like to add to or suggest amendments to the information herein then please contact us.

Vietnam Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Vietnam are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Vietnam Tax Calculator 2024.

In Vietnam, social security deductions made by employees are considered deductible expenses when calculating taxable income. This means that the amounts contributed by employees towards social insurance, health insurance, and unemployment insurance can be deducted from their gross income before calculating the personal income tax owed. This policy helps to lower the taxable income of employees, effectively reducing their overall tax liability and ensuring that their social security contributions are not subject to taxation.

Vietnam Social Security and Payroll Deduction Rates in 2024

In Vietnam, both employees and employers are required to contribute to various social security funds. These contributions are designed to provide a safety net for workers, covering different aspects such as healthcare, retirement, and occupational hazards. The system aims to ensure that all employees have access to basic social welfare and protection in case of unemployment, illness, and retirement.

Social Insurance Contributions

Social insurance in Vietnam is a key component of the social security system, funding pensions, sickness benefits, maternity leave, and allowances for workplace accidents and occupational diseases. Both employers and employees contribute to this fund, which is intended to support workers during times of need, ensuring they have financial assistance during retirement, illness, and work-related injuries.

Health Insurance Contributions

Health insurance contributions provide access to medical services for employees. This includes preventive care, treatment of illness and injury, and rehabilitation services. Contributions are made by both employees and employers, aiming to ensure that all workers have access to healthcare services, reducing the financial burden of medical expenses.

Unemployment Insurance Contributions

Unemployment insurance is another critical element of Vietnam's social security system, offering temporary financial support to workers who lose their jobs. The fund helps unemployed individuals maintain a basic standard of living while they search for new employment. Contributions to the unemployment insurance fund are made by employers, employees, and the government, highlighting a collective effort to provide a safety net for the unemployed.

Compulsory Occupational Accident and Disease Insurance

This type of insurance is funded entirely by employers and is designed to cover employees who suffer from work-related accidents or diseases. It provides compensation for medical expenses, rehabilitation, and loss of income due to temporary or permanent disability. This insurance emphasizes the employer's responsibility to ensure a safe working environment and to assist employees in the event of work-related health issues.

Trade Union Fees

While not part of the social security system, trade union fees are another payroll deduction in Vietnam. Employees who are union members contribute a small percentage of their salary to fund union activities. These fees support the trade union's role in protecting workers' rights, negotiating labor agreements, and providing welfare benefits to its members.

Overall, Vietnam's social security and payroll deduction system plays a fundamental role in safeguarding the welfare of employees. By distributing the responsibility for social welfare between employers, employees, and the government, Vietnam aims to create a comprehensive support system that covers various aspects of social protection. This system not only provides immediate benefits to workers but also contributes to social stability and economic development by ensuring a healthy, secure workforce.

Vietnam VAT Rates in 2024

VAT rates for Vietnam are reviewed annually, you can use the VAT Calculator to calculate VAT due in Vietnam or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Vietnam

The following tax tables are supported by iCalculator™ VN as part of the suite of free tax tools we provide for Vietnam.