With an estimated 90.5 million inhabitants as of 2014, it is the world's 13th-most-populous country, and the eighth-most-populous Asian country. Known in the past as a huge agricultural country, which it is still a huge exporter of rice, wood, and coffee, it has since stepped out of that comfort zone. Manufacturing, information technology and high-tech industries now form a large and fast-growing part of the national economy. Though Vietnam is a relative newcomer to the oil industry, it is currently the third-largest oil producer in Southeast Asia.
There are several types of businesses in Vietnam
For more info visit :http://www.mpi.gov.vn/en/
There are several types of employment that is recognized
Varies by region:
Region I: VND 2.7 million (US$ 128)
Region II: VND 2.4 million (US4 114)
Region III: VND 2.1 million (US$ 100)
Region IV: VND 1.9 million (US$ 90)
12 working days after every 12 months of employment. This entitlement increases by one additional day of leave for every five years of employment in an enterprise or with an employer.
Employers are required to make social insurance (SI), health insurance (HI) and unemployment insurance (UI) contributions of 15%, 3% and 1% respectively.
The General Department of Taxation under the Ministry of Finance is the main agency that enforces taxation for the government.
In 2014 the corporate tax rate was set to 22%
For non resident status companies the tax would be flat at 25%
VAT in Vietnam is unique as there is no registration threshold. Companies trading or importing into Vietnam are expected to register for VAT immediately upon receiving a business licence.
The standard VAT rate is 10%. 5% reduced VAT rate on certain foodstuffs and a range of exempt goods and services as well as imports.
For more info visit :http://www.gdt.gov.vn/wps/portal/english