Companies offering equity awards in Malaysia have long had to balance the cumbersome tax and securities filings against the business case for providing additional benefits to Malaysian employees. Recent amendments to the Malaysian Employment Act mean that companies will need to re-evaluate payroll deduction requirements and potential translation requirements when deciding to offer equity awards or an ESPP in Malaysia. For more information on the impact of the amendments on your company’s equity plans, read…
On August 22, 2022, the Indian Government issued new exchange control rules affecting share-based awards offered to Indian residents by non-Indian issuers. In particular, the Indian Government issued the Foreign Exchange Management (Overseas Investment) Rules, 2022 (“OI Rules”), Foreign Exchange Management (Overseas Investment) Regulations, 2022 (“ODI Regulations”) and Foreign Exchange Management (Overseas Investment) Directions, 2022 (“ODI Directions”). The new OI Rules replace all previously available exemptions to grant share-based awards to Indian residents with a single…
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Vietnam is becoming an increasingly important market for talent, and we have witnessed growing demand for the offering of share-based awards to employees in Vietnam in recent years. Due to currency control restrictions imposed by the State Bank of Vietnam (SBV), including the requirement that each plan be registered with the SBV, it has traditionally been challenging to implement a share plan in Vietnam. Since the adoption of Circular 10 in 2016, the SBV registration…
Sadly, due to Covid-19, it is now virtually certain we will enter a recession. While the experts are arguing about the length and severity, everyone agrees the current circumstances will lead to many businesses failing and a spike in unemployment. We are already seeing a significant decline of share prices across all industries and the accompanying volatility in the financial markets. I recognize that many of you are worrying about more pressing problems, such as…