📢 Key Updates and Important Changes in Law No. 56/2024/QH15 Effective from January 1, 2025 🚨

Law No. 56/2024/QH15 introduces several new regulations and important amendments across multiple sectors to modernize the legal framework, facilitate business and investment, and enhance transparency and accountability. Here are the key highlights:

1. Securities Law 📈
🔹 Market Manipulation Definition: For the first time, the law provides a detailed definition of market manipulation, including creating artificial supply and demand using multiple accounts.
🔹 Enhanced Oversight: New regulations strengthen monitoring and enforcement against fraud in securities issuance and trading.
🔹 Public Company Requirements: A company must have a charter capital of at least 30 billion VND and at least 10% of shares held by a minimum of 100 investors to qualify as a public company.
🔹 Delisting Public Companies: A company will lose its public company status if it fails to disclose financial information for two consecutive years.

2. Accounting Law 📊
🔹 Simplified Accounting Procedures: The requirement to include the name and address of organizations on accounting documents has been removed, making accounting procedures more streamlined for businesses.

3. Independent Auditing Law 🔍
🔹 Higher Penalties for Violations: Fines for violations in auditing have increased up to 20 times, ensuring stricter enforcement and better protection for investors.

4. Tax Administration Law 💰
🔹 E-commerce Taxation: New regulations mandate tax declaration and payment for individuals and businesses engaged in e-commerce, enhancing tax management in the digital economy.

5. Administrative Violations Law ⚖️
🔹 Stricter Penalties: New provisions reinforce penalties for violations in finance, accounting, and tax, creating a more transparent and fair business environment.

📅 These changes take effect from January 1, 2025, marking a significant reform in the legal system to support businesses, enhance market transparency, and improve tax and financial governance.