The problem of data privacy being controlled by a bully company in a bully country is only the beginning of the problem, especially for countries that may not be in the exact sphere of influence of the Western alliance. Let me explore the issues using Axie Infinity as a definite example for ease of discussion.
In this newsletter: 1) Extension of time for paying VAT, enterprise income tax, personal income tax and land rent, 2) preventing tax loss in real estate transfer, and 3) The requirements for enterprises to be supported for loan interest rates of 2 percent per year.
The Directorate of Investment and Company Administration issued three notifications, namely, Notifications 58/2022, 59/2022, and 64/2022 in April 2022. 300 companies incorporated under the Myanmar Companies Law which failed to submit their annual returns within the prescribed time period were struck off this April.
This update discusses Interim measures in Thailand, which are listed under Section 254 of the Thai Civil Procedure Code, and are considered equitable remedies, meaning that they are within the inherent authority of all Courts vested with equitable jurisdiction.
On 1 April 2022, the Ministry of Commerce (“MOC”) and the Ministry of Posts and Telecommunications issued Joint Notification 0837 setting out requirements for locally registered companies to use a level 2 national domain name “.com.kh” and e-mail address with level 2 national domain name “.com.kh”.
Article 13 of Decree 35/2020 sets out two different sets of merger filing thresholds; the two sets of different merger filing thresholds give rise to various uncertainties for a M&A transaction involving a Special Company.
When determining who is a related person of a non-public joint stock company (JSC), as a routine, one would turn to Article 4.23 of the Enterprise Law 2020. Article 4.23 lists out the related persons of a company. However, Article 167.1 suggests that the list of related persons under Article 4.23 might not be exhaustive.
On 24 May 2022, the Port Authority of the Ministry of Transport and Communications issued an invitation for bids to be submitted to conduct a feasibility study for the construction of a new international port terminal (“Project”) in Mawlamyine district of Mon State on the western coast of Myanmar’s southeastern peninsula.
In this update: 1) New air services priced by the Ministry of Transport, and 2) New conditions for implementing industrial park infrastructure projects.
A mortgage over receivables (thế chấp khoản phải thu) is a very common type of mortgage in Vietnam. Article 33 of Decree 21/2021 provides that a mortgage over receivables does not require a consent by the obligor but such person must be notified by the secured party to know before implementing the obligations.
The Securities Law 2019 removes the requirement for approval by the State Securities Commission (SSC) for transactions involving 10% or more of the Charter Capital of a Vietnamese securities company. Only a private placement of shares by a securities company is subject to SSC’s the approval. It is unclear if M&A Approval is required where a foreign investor acquires secondary shares in a Vietnamese securities company.
To finish our long review of data privacy regulations in e-commerce, including data localization and cybersecurity issues, this post shares our overview of relevant commitments in these areas in international agreements to which Vietnam has recently become a member.
Draft Decree 153 aims to further strengthen the legal framework for a viable, transparent and effective corporate bond market. However, in its current form, the draft decree could impede the trading of corporate bonds for both issuers and investors.
On 21 May, the Government issued Decree 32/2022 to extend the special consumption tax (“SCT”) payment deadline for locally manufactured or assembled automobiles, applicable for the period from June to September 2022. Decree 32/2022 takes effect from the signing date to 31 Dec 2022.
In this update: 1) Guidance on trade remedies under The Regional Comprehensive Economic Partnership Agreement (RCEP), 2) Applying the special consumption tax (SCT) from 1 March 2022, 3) Customs procedures on goods exported from a Bonded Warehouse (BW), and 4) VAT refunds and export duty applicable.
The Myanmar Ministry of Energy has issued two invitations for sealed bids to be submitted to function as an operator and shareholder in the Yetagun Project on a production-sharing contract basis and a petroleum operator for the Htaukshabin-Kanni Oil Field onshore oil fields.
In this update: 1) New Circular supporting small and medium innovative businesses, 2) Supporting interest rate of 2%/year from the state budget with loans from businesses
In this update: 1) Suspension of Covid-19 test requirements before entering Vietnam, 2) Preventing tax loss in real estate transfer, 3) Finalizing a Decree on customs management with goods transacted via e-commerce
In this update: 1) Guidance from the Ministry of Industry and Trade to business conditions for rooftop solar power, and 2) Draft Decision on piloting the direct trading mechanism between renewable energy generators and large electricity clients
In this update: 1) Temporarily suspending medical declaration for people entering Vietnam, 2) The Ministry of Finance issued Official Letter 3849/BTC-TCT on combating tax loss in business activities and real estate transfer.
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
All resources are linked to related content with each link manually selected by our editorial staff.
In addition, all content can be found using our advanced search engine, to improve the speed and effectiveness of your research.
We work with many local and international firms on an ongoing basis to develop and maintain the service.