Compulsory contribution to Vietnam Disaster Prevention and Control Fund in 2022

The Vietnam Disaster Prevention and Control Fund is used to support natural disaster prevention and control activities that the state budget has not invested in or has not yet met the requirements. According to the Decree, the following subjects have to contribute to Vietnam Natural Disaster Prevention and Control Fund.

Compulsory contribution to Vietnam Disaster Prevention and Control Fund in 2022 (Source: Internet)

The subjects required to contribute to Vietnam Natural Disaster Prevention and Control Fund include:

* Vietnam's and foreign economic organizations

The rate of compulsory contribution from domestic and foreign economic organizations within a locality per year is 0.02% of total value of existing assets according to the financial statement that the paying organization makes on December 31 each year to the tax authority;

However, the minimum is 500 thousand dong and the maximum is 100 million dong and it shall be accounted as that organization’s operating expenses.

* Vietnamese citizens who are at least 18 years old or at retirement age under normal working conditions

Vietnamese citizens who are at least 18 years old or at retirement age under normal working conditions prescribed in law on labor shall make annual contributions as follows:

Officials, public officers, public employees, persons paid wages, salaries, allowances and employees working at agencies, organizations and non-business units of the Party, State, socio-political organizations and associations that are funded by the State budget to cover their operating expenses at the central level, in provinces and centrally-run cities, in urban/rural districts, towns, provincially-affiliated cities, cities under the central authority (district level), in communes, wards and townships (commune level), in special administrative-economic units and armed forces shall:

Pay a half of the statutory base salary divided by the number of working days in a month.

- Employees working under labor contracts in enterprises shall:

+ Pay a half of the region-specific statutory minimum pay rate divided by the number of working days in a month as agreed upon in the labor contract.

+ Employees who enter into multiple contracts with different enterprises shall only have to make a one-off contribution according to the labor contract of which the term is longest.

- Other employees, besides the above subjects: Contributing 10,000 VND/person/year.

(Article 12 of Decree 78/2021/ND-CP)

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