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Vietnam Extends Social Security Contribution Relief for Employers Impacted by COVID-19

13 August 2020

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Approved Changes

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Vietnam

Vietnam's social security authority reportedly announced on 10 August 2020 that social security contribution relief for employers impacted by COVID-19 is being extended to the end of December 2020. Initially announced on 24 March 2020 and provided to the end of June 2020, the relief includes a suspension of contributions to the pension fund and death benefit fund for companies operating in the passenger transport, tourism, accommodation, restaurant, and certain other sectors that have had to temporarily lay off of at least 50% of their employees due to the pandemic or have suffered losses equal to more than 50% of...