POSTPONEMENT ANNOUNCEMENT

Thank you for the overwhelming interest in our Master Class to date. As you may be aware, there have been extensive discussions between private sector representatives, including the Cambodia Chamber of Commerce, and the Ministry of Labour and Vocational Training in recent weeks over concerns about the seniority payment regime introduced in September under Prakas 443. As a result of these discussions, implementation of the seniority payment regime is subject to ongoing review.

Given the prospect that refinements may be made to the seniority payment regime over the coming weeks, we have decided to postpone the Master Class until such time as all unsettled issues concerning the seniority payment calculations are resolved.

We are actively involved in the above discussions and will continue to update you all on material progress over the coming weeks. Once agreement has been reached with all relevant parties, we will confirm the new date and time for the Master Class, most likely to be in early to mid-January 2019, well in advance of the deadline for the filing of monthly tax declarations. In the meantime, with respect to provisioning for accounting purpose, we recommend that you follow International Financial Reporting Standards IAS 19 – Employee Benefits under section Other Long-Term Employee Benefits.

We sincerely apologize for any inconvenience caused for this delay but trust that you appreciate the need for all unsettled concerns over the seniority payment regime to be settled before holding the Master Class.

Date & Time: January 2019 (Details to follow)

Venue: Topaz

Fees: USD45

If you have any questions in relation to the above or wish to obtain a refund for any prior registration, please do not hesitate to contact us at events.cambodia@dfdl.com