New Law on Housing

The National Assembly has just adopted the Law on Housing No. 65/2014/QH13 on November 25, 2014 (“New Law”). This Law takes effect from July 1, 2015 replacing the Law on Housing No. 56/2005/QH11, Law No. 34/2009/QH12, Law No. 38/2009/QH12 (portion relating to Law on Housing), and Resolution No. 19/2008/QH12 providing a pilot guideline for foreigners to own residential houses in Vietnam. The major amendments are discussed below.

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Defining Salary, Allowances and Additional Payments

Circular 23 provides detailed definitions on salary, allowances, and other additional payments per the labour contract. It is noteworthy that from 1 January 2016, allowances shall be included into the base for compulsory insurance contributions and from 1 January 2018, additional other payments will also be included into that base.

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