Mazars in Vietnam Newsletter - Tax & Legal Update - Issue April 2024

Official Letter No. 862/BHXH-TST guiding on certain contents of the Social Insurance Agreement (the Agreement) between Vietnam and South Korea.

On March 29, 2024, Vietnam Social Insurance issued Official Letter No. 862/BHXH-TST guiding certain the implementation the Social Insurance (SI) Agreement between Vietnam and South Korea.

Accordingly, VSS provides guidance on certain contents regarding the issuance and reception of Social Insurance Certificates, as well as the suspension of compulsory Social Insurance contributions for Vietnamese workers employed in South Korea to implement the Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Republic of Korea on Social Insurance.

Some terminologies are as stipulated in the Agreement and Administrative Arrangements.

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*Disclaimer:

This is a guide from Mazars in Vietnam to update the latest developments in tax, accounting and investment environment in Vietnam. The information and analysis or comments herein are of the generic nature and are quoted or interpreted from the regulations. We recommend that the clients contact Mazars Vietnam’s advisors for further clarification and professional advice for each particular circumstance.