Income Tests

After my request to continue being paid in a real currency, I received the following from our CFO:

Anthony,

You are a local employee in Vietnam. Under the we should not be making payment to any person or company in Vietnam in USD.

All local payments must be in VND, even if the transaction was contracted in USD. All payments by the company to you needs to be in VND. I hope you understand that.

Regards,

Our CFO is a potato, here on assignment from Singapore. I am sure he is being paid directly from the Singapore office and not in VND.

I replied:

Sorry. No. I don't understand.

I have good reasons for requesting this, eg protecting my interests.

Trang's email makes no mention of any recent changes to local law - nothing but an unannounced shift in company policy.

Regardless of all that, my contract was written in USD with an assurance (before, during and afterwards) that I would be paid into a USD bank account.

There is no mention of VND in my contract or any other supporting documentation.

My initial financial briefing in Hanoi, from the international tax advisor you provided, advised me to ensure I'm paid in USD and not VND.

Your email below states a rule but does not explain:

- why you agreed to pay me in USD in the first place?

- why an independent financial advisor appointed by you also recommended the same payment approach?

- why the sudden change in policy?

- why are so many foreigners I know paid in USD in other Vietnamese companies, including reputable multinationals?

- how can I "legally" change my money from VND to USD at a fair price?

- do you think it's acceptable for your employees to fish around for my alternative bank account numbers and decide for themsevles which one to pay me into?

- what other avenues are still available to me?

If any such rule exists in Vietnam, I am surprised why it is not being applied to all foreigners working here (including you). This type of law is usually applied on the same basis as working permits, where it doesn't matter who pays you but where (and why) you are working here. Therefore, if you are paid for performing duties within Vietnam for the benefit of a Vietnamese based company ... you are equally in tax and in law. I assume you have explored whether own pay is supposed to be converted from SGD into VND under this law?

What would you do in my situation? Just leave several thousands of dollars behind in Vietnam, feeling upset and hard done by?

Anthony

I can't help but think that the timing of all this has a remarkable "fuck you" flavour to it.

I don't need a crystal ball. I can see this all ahead of me. I have to fight this. But it's going to be so painful and thankless.