Vietnam: Relief measures for employers (COVID-19)
Support for employers and their employees encountering challenges resulting from coronavirus
Support for employers and their employees encountering challenges from coronavirus
The government approved Resolution No. 68/NQ-CP (1 July 2021) on several policies to support employers and their employees encountering challenges resulting from the coronavirus (COVID-19) pandemic.
To expedite the implementation of these relief measures, the Prime Minister issued Decision No.23/2021/QD-TTg (7 July 2021) with detailed guidance for applying these policies.
Among the relief measures or policies to support employers are provisions that:
- Reduce the contribution rate for labour accident and occupational disease insurance to 0% (from 0.5%) for 12 months (from 1 July 2021 through 30 June 2022)
- Suspend payments to the retirement and survivorship fund for six months
- Provide financial support for vocational training for employees
- Provide loans with a 0% interest rate when used to pay job-cessation and recovery-related salaries in certain sectors such as transportation, travel, and hospitality
Read a July 2021 report [PDF 91 KB] prepared by the KPMG member firm in Vietnam
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.