1. Value-Added Tax (VAT) Law 2024
- Exported goods (such as agricultural products, processed minerals, etc.) and exported services are more clearly eligible for the 0% VAT rate.
- Additional goods and services are exempt from VAT, including agricultural machinery and securities trading services.
2. New Personal Tax Identification Policy
- A new era: Personal Identification Numbers (PINs) will replace traditional tax codes.
- Effective from July 1, 2025, applicable to individuals, household businesses, and dependents nationwide.
3. Amended Social Insurance & Health Insurance Laws 2024
- Updates to insurance regulations for workers, laborers, and foreign employees.
- The amended Health Insurance Law includes 14 key changes, effective from July 1, 2025.
4. Law on Data
- Comprehensive regulation of data digitization activities, including ownership and usage rights of digital data.
- Directly applicable to tech companies, e-commerce platforms, and fintech firms from July 1, 2025.
5. Judicial Reform of the Court System
- Major restructuring of the judicial system:
+ Abolishment of district-level People’s Courts and High People’s Courts.
+ Establishment of Regional Courts as replacements.
+ Reduction in provincial courts from 63 to 34.
Effective from July 1, 2025, directly affecting jurisdiction over civil, labor, and commercial disputes.
6. New Laws and Guiding Circulars
Nearly 60 legal documents to take effect, including 13 laws, 9 decrees, and approximately 39 circulars (focusing on finance–tax, construction, civil service, notarization, etc.).
Important Notes
| Issue | Details |
|---|---|
| Tax & Billing | Tax authorities will apply the new PIN system starting July 1, 2025. Businesses must prepare to integrate it into personal/household tax declaration systems. |
| Export Businesses | Review and adjust contracts and transaction structures to take advantage of the newly clarified 0% VAT incentives in the 2024 VAT Law. |
| Data Governance | Finalize personal data protection policies and adjust information processing procedures to comply with the Law on Data effective July 1, 2025. |
| Litigation & Judiciary | Verify court jurisdiction when filing lawsuits under the newly established regional court system effective July 1, 2025. |
In-Depth Legal Recommendations
- Review tax declaration procedures and use of tax codes/PINs to comply with the new regulations.
- Adjust export and domestic contract terms to benefit from the latest tax incentives.
- Develop data protection and usage policies aligned with the Law on Data.
- Check jurisdiction when submitting legal documents or initiating lawsuits under the new court structure.
- Train finance, HR, and IT teams to adapt quickly to upcoming legal changes.
Contact APEX PARTNERS for expert consultation!
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