We are writing to inform you about recent legal developments that may impact your business. Please see the highlights below.
1. Circular No.23/2024/TT-NHNN on Offshore ESOP
The State Bank of Vietnam has removed the requirement to register Offshore Employee Stock Ownership Plans (ESOPs). This change will simplify the administrative process for companies with offshore ESOPs.
2. Minimum Wage Regulations under Decree 74/2024/NĐ-CP
The latest decree specifies the adjustments in the minimum wage levels applicable to different regions. This update is crucial for ensuring compliance with labor regulations.
3. Decree No.72/2024/NĐ-CP on VAT Reduction
This decree implements a temporary reduction in Value-Added Tax (VAT) rates. Businesses must review their pricing and tax reporting systems to accommodate this change.
4. Updated E-Wallet Regulations under Circular 40/2024/TT-NHNN
The circular introduces new regulations and operational guidelines for e-wallet service providers to enhance security and transparency in digital transactions.
Please click the hyperlink below to download a full version of this legal alert.
If you need more information or help navigating these changes, please do not hesitate to contact us.
• Diep Hoang +84 28 7300 0864 (ext 120) Diep.hoang@dilinh.com
• Michael Lee +84 28 7300 0864 (ext 130) Michael.lee@dilinh.com