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Cambodia: Specific Tax Changes

Notification 28271, issued by the General Department of Taxation (GDT) on the 15th of August 2023, adjusts the rates of Specific Tax (SPT) that applies to locally produced non-alcoholic beverages in Cambodia. The adjusted rates of specific tax will take effect from 1 September 2023.

Vietnam: Contract interpretation under Vietnamese law

There are many disputes over the language of a contract. Such disputes usually result from ambiguous provisions which are not reviewed thoroughly by parties when concluding contracts. This article presents five principles of interpreting a contract under Vietnamese law.

Vietnam: Adjustments to insurance premiums for employees

Myanmar Embraces Thai Baht: Currency Usage on the Rise

On 14 August 2023, the Central Bank of Myanmar (CBM) issued a directive allowing Authorized Dealer (AD) banks to use Thai baht for international payments and settlements.

Vietnam: Law 23/2034/QH15 on several Articles of Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam

Following the issuance of the Law No. 23/2023/QH15 amending several Articles of Law on Entry, exit, transit and residence of Foreigners in Vietnam, on 14 August 2023, the Vietnamese Government issued Resolution No. 127/NQ-CP and Resolution No.128/NQ-CP, which provide more clarification on some articles of the Law No.23 and will facilitate inbound foreigners entering Vietnam.

Vietnam: KPMG Technical Update on The issuance of license, organization and operation of the non-bank credit institutions

In this KPMG technical update: 1) Circular amending Circular on the issuance of license, organization and operation of the non-bank credit institutions, 2) Draft of Decree on cybersecurity administrative sanctions.

Vietnam: Customs update in-country export and import transactions in Vietnam

The General Department of Customs recently issued official letters 3987/TCHQ-GSQL dated 31 July 2023 and 4146/TCHQ-GSQL dated 8 August 2023 regarding in-country export and import tripartite transactions involving foreign traders. This refers to the developments regarding in-country export and import transactions covered in our Newsbriefs dated 10 November 2022 and 9 June 2023.

Vietnam: Draft regulations on administrative penalties for violations of cybersecurity and personal data protection

In this update: 1) The Draft Decree on Cybersecurity Administrative Penalties is tentative to take effect from 1 December 2023, 2) The Draft DCAP provides administrative penalties for violations of the personal data protection compliance requirements applicable to data controllers, processors, and controlling-processing entities.

Vietnam: Customs and Global Trade Alert | August 2023

This Alert is to update the recent regulatory development on on-the-spot import and export customs procedures in Vietnam.

Cambodia: Key Considerations When Hiring Contingent Workers

As an alternative to hiring employees on payroll, there is an increasing use of contingent workers to perform work traditionally performed by employees in order to save costs and improve operational efficiency. To ensure compliance with the Cambodian Labour Law and minimize interruption to business operation, enterprises should consider key questions as outlined below.

Vietnam: New Lending Rules Affecting Investors Funding Plans

In June 2023 the State Bank of Vietnam released Circular 06/2023/TT-NHNN on lending activities of credit institutions and branches of foreign banks in Vietnam and Circular 08/2023/TT-NHNN dated 30 June 2023 on conditions for non-government guaranteed cross-border foreign loans.

Vietnam: Decree No. 10/2023/ND-CP amends and supplements the decrees guiding the Law on Land

In this update: 1) Issuance of certificates of ownership for the construction of tourist accommodations, 2) Conditions and criteria on changing land use purposes for rice cultivation, protective forest land and special-use forest land, 3) Procedures for land recovery in case of termination of an investment project in accordance with the investment regulations and others.

Vietnam: Customs and Global Trade Updates | May 2023

In this update: 1) Briefing of Operation Mekong Dragon V, 2) New format of the Certificate of Origin (C/O) within the framework of the Regional Comprehensive Economic Partnership Agreement (RCEP), 3) Circular on consolidating regulations under Law on Foreign Trade Management, 4) List of machinery and equipment that can be produced domestically, 5) Draft Resolution on the reduction of Value-Added Tax (VAT)

Vietnam: Customs and Global Trade Updates | June 2023

In this update: 1) List of scraps allowed to be imported from overseas as production materials, 2) Schedule of export tariff, preferential import tariff, tariffs nomenclature and corresponding absolute tariff, mixed tariff and out-of-quota tariff, 3) Application of ordinary duty rates for imported goods, and 4) Circular regulating the determination of origin of exported and imported goods and other updates.

Inheritance rights related to enterprise-ownership rights in Vietnam

Inheritance rights related to enterprise-ownership rights is an important factor in the family business model to ensure the company’s operation within the family for generations. What are Vietnamese regulations regarding inheritance rights related to enterprise-ownership rights in Vietnam?

Who are professional securities investors under the laws of Vietnam?

One of the methods for an issuer to offer securities to the public is to offer securities to 100 or more investors, excluding professional securities investors. So which individuals/organizations are regulated as professional securities investors? This article summarizes the main regulation about professional securities investors under the laws of Vietnam.

Vietnam: Can disputes arising from debts among foreigners living and working in Vietnam be resolved in Vietnamese Courts?

In this article, BLawyers Vietnam presents the provisions of Vietnamese law that address the jurisdiction of Vietnamese courts to settle disputes arising from debts among foreign organizations and individuals in Vietnam by answering key questions.

Vietnam: New restrictions on bank lending

On 28 June, the State Bank of Vietnam issued Circular 06/2023/TT-NHNN amending various regulations on lending by Vietnamese banks and branches of foreign banks. Circular 06 will come into effect on 1 September 2023.

Vietnam: New Draft Decree on Internet Services

On 17 July 2023, the Ministry of Information and Communication of Vietnam released a new version of the Draft Decree, replacing Decree No. 72/2013/ND-CP of the Vietnam Government on the management, provision, and use of Internet services and online information.

Vietnam Unveils Ambitious National Energy Master Plan for Sustainable Future

In a significant stride towards a more sustainable future, Vietnam has unveiled its comprehensive National Energy Master Plan, charting a course from 2021 through 2050. Deputy Prime Minister Tran Hong Ha recently signed Decision No. 893/QD-TTG (dated 26 July 2023), giving the green light to this pivotal roadmap that addresses the nation's energy needs while prioritizing environmental protection and socio-economic growth.