Update news Tet bonus
Schools across the country were trying to balance their spending to give gifts to encourage teachers during the upcoming Lunar New Year.
Many enterprises in Vietnam are struggling to give Tet bonuses for their workers.
Many workers in Industrial Zoness in Binh Duong have had to leave for their hometown after being laid off or had their hours cut.
The layoff campaign occurring two months before the New Year holiday (Tet) has dealt a strong blow to many workers.
The biggest amount of money that Nguyen Thuy Hien, a primary school teacher, working as a teacher for 28 years, has received for Tet was VND500,000.
Businesses in banking, technology, and seaports will likely be able to keep Tet bonuses level with 2021 while other sectors, especialy tourism are likely to be lower than last year.
Many domestic enterprises are suffering serious losses or only fulfilling half of their annual plans due to the impact of the COVID-19 pandemic, but they are still managing to offer Tet (Lunar New Year) bonuses to their workers.
Though businesses have been hit hard by the Covid-19 pandemic, many will offer Tet bonuses equal to last year in an effort to retain workers.
The highest Tet bonus workers this year is VND1.07 billion, or over $41,000. The highest pay in 2020 was VND516 million a month.
The consumer price index (CPI) has increased by 22 percent compared with July 2013, when the 2012 amended PIT Law took effect. However, the taxation threshold remains unchanged.
More than 1,000 workers from a foreign-invested Taiwanese company in the northern province of Ninh Binh have returned to work after three-day strike over low Tet bonuses.
Reports about ESOP (employee stock ownership plan) and Tet bonus programs from businesses show that those who have received the biggest bonuses were mid- and high-ranking managers.