Updates
Vietnam: Decree No. 70/2023/ND-CP on conditions for work permit applications and procedures
- KPMG Legal Vietnam
on 18 September 2023, the long-awaited Decree No.70/2023/ND-CP, amending a number of articles of the Decree No.152/2020/ND-CP was issued. Changes in the regulations as guided in the amended Decree No. 70/2023/ND-CP on conditions for work permit applications and procedures are expected to significantly impact on the recruitment and mobility policies of the businesses using foreign labours.
Vietnam: Update On Price Frame for Solar and Wind Power Plants
- Lexcomm Vietnam LLC
The Ministry of Industry and Trade has just completed a draft Circular on methods of developing a price frame for solar and wind power plants for comments.
Cambodia Adopts the 2023 Environmental and Natural Resources Code
- DFDL Cambodia
The Environmental and Natural Resources Code (the “Environmental Code”) was adopted on 29 June 2023 by Royal Kram № NS/RKM/0623/007. This article discusses the key takeaways and points.
Vietnam's Sandbox for Fintech: To Join or Not to Join?
- LNT & Partners
In Vietnam, the decree for regulations on controlled testing mechanism for financial technology activities in the banking sector (Sandbox) has been considered since its first draft in 2020. The decree is expected to be enacted by Vietnam Government this year. This article highlights the key pros and cons and the opportunity costs, to help decide on parachuting under this pilot scheme.
Myanmar: Covering the Gap - Myanmar Issues E-Commerce SOP
- DFDL Myanmar
On 5 September 2023, the Ministry of Commerce issued the E-commerce Guidelines and the Online Business Registration Order. E-commerce operators in Myanmar have anticipated these guidelines as they answer questions and serve as a comprehensive guide for a better understanding of the E-commerce ecosystem.
Vietnam: Negative aspects from the negative-list-approach in Vietnam’s market openings under the CPTPP
- LNT & Partners
From 14 January 2019, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) became effective for Vietnam. This article discusses the negative list approach in the CPTPP.
Vietnam: The carbon credit and carbon market
- BLawyers Vietnam
The carbon market in Vietnam has been gradually heating up, especially after the Government issued on the mitigation of greenhouse gas emissions and protection of the ozone layer. This update provides an overview of the carbon credit and carbon market in Vietnam.
Thai Revenue Department Issues Game Changing Personal Income Tax Instruction
- DFDL Thailand
On September 15, 2023, the Thai Revenue Department issued a departmental instruction that fundamentally changes personal income tax regarding offshore income. The new position is that any foreign source income will be subject to Thai personal income tax regardless of when it is remitted into Thailand.
Vietnam: KPMG Technical Update on New Bidding Law and New Consumer Rights Law
- KPMG Legal Vietnam
This update will set out a number of key changes in the new Bidding Law (22/2023/QH15) and in the new Law on the Protection of Consumer Rights (19/2023/QH15).
Bangladesh: Tax Guide 2023- 2024
- DFDL Bangladesh
Introducing the second edition of the Bangladesh Tax Guide, updated to align with the amendments brought forth by the Finance Act 2023. This comprehensive guide serves as your compass through the complexities of income taxes, with holding taxes, value-added taxes, and customs duties, offering clarity on regulations and compliance essentials.
Vietnam: New Law On Consumer Protection
- Venture North Law Firm
On 20 June 2023, the National Assembly issued a new Law on Consumer Protection, which will replace the Law on Consumer Protection 2010 from 1 July 2024. In this post, we will discuss some key points of the Law on Consumer Protection 2023.
Vietnam: Term deposit in regard of foreign loans not guaranteed by the Government
- Mazars Vietnam
On 30 June 2023, the Governor of the State Bank of Vietnam promulgated Circular No. 08/2023/TT-NHNN on conditions on foreign borrowing not guaranteed by the Government, replacing Circular No. 12/2014/TT-NHNN and amending a number of provisions in Circular No. 12/2022/TT-NHNN.
Vietnam: SBV publishes new Circular on offshore loans without guarantee
- LNT & Partners
On 30 June 2023, the State Bank of Vietnam (SBV) issued Circular 08/2023/TT-NHNN (Circular 08), prescribing the eligibility requirements for foreign loans without the government's guarantee. This article provides a detailed look at Circular 08.
Vietnam: Draft Decision on procedures for approval of foreign lending and non-resident guarantee activities by economic organisations
- LNT & Partners
The Ordinance on Foreign Exchange Control allows economic organisations to extend outbound loans and furnish guarantees to non-residents, provided they secure permission. However, the absence of a comprehensive legal framework has led to a case-by-case approval system, causing challenges.
Vietnam: Notes on liability exemption in implementation of a commercial contract pursuant to Vietnamese laws
- BLawyers Vietnam
When entering a commercial contract, often a contractual party does not pay sufficient attention to liability exemption. The liability exemption is a provision protecting legitimate rights and interests of the breaching contractual party in specific cases while implementing the contract in practice. This legal update examines this issue. In this article, BLawyers Vietnam presents an overview of four notes on liability exemption when breaching a contract in the commercial field.
Vietnam: Which group of employees should an employer pay attention to when considering restructuring in Vietnam?
- BLawyers Vietnam
When an enterprise conducts a restructuring, it will affect the rights of employees. The enterprise needs to pay attention to certain groups of employees. This article provides information about the key labour groups when considering restructuring.
Vietnam: Tax & Customs Global Trade Alert | September 2023
- EY Vietnam
This Alert is to update the latest development on on-the-spot export and import transaction in Vietnam, and their potential tax and customs implications.
Vietnam: Stricter conditions for foreign loans by Vietnamese companies being non-credit institutions
- Venture North Law Firm
In June 2023, the State Bank of Vietnam (SBV) issued Circular 8/2023 which prescribes conditions for Vietnamese borrowers to borrow foreign loans without a Government guarantee. In this update, we discuss the borrowing conditions for a Vietnamese Company.
The Cambodian Pension Scheme
- BNG Legal
The National Social Security Fund focused on health insurance and now also includes pension provisions. Sub-Decree No. 32 on the Social Security Scheme of 04 March 2019 initiated this shift. This newsletter will explore the requirements of employers, the benefits of employees and the implementation of the law.
Cambodia: 2024 Foreign Employee Quota Application Window Now Open
- DFDL Cambodia
Enterprises employing or intending to employ foreign employees in 2024 are required to apply for a foreign employee quota from the Ministry of Labour and Vocational Training. Under the quota system, a maximum of 10% of an employer’s total local workforce may be foreign nationals. The 2024 Quota is now open.
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Legal Terms Bilingual Index
Important Vietnamese legal terms can be looked up, with the corresponding term in the other language presented (Vietnamese <-> English). Very helpful resource for those professionals working in both languages
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