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Vietnam: Specialized clinics, goods trading activities, and requirement for trading permits and an outlet licence.

When are a specialized clinic’s goods trading activities required to have a trading permit and an outlet license at the same time?

Myanmar: IRD Clarifies Taxation of Housing and Medical Benefits Given to Employees

On 28 June 2023, the Internal Revenue Department issued Interpretation Statement No. 1/2023 clarifying the Personal Income Tax treatment of housing and medical benefits given to employees.

Vietnam Tax Alert - VAT Reduction

Following the Resolution No. 101/2023/QH15, on 30 June 2023, the Government issued Decree 44/2023/ND-CP on VAT reduction. Accordingly, the VAT for goods and services which are currently subject to the tax rate of 10% is reduced to 8%, with certain exceptions, applicable from 01 July 2023 until 31 December 2023.

Vietnam: State Bank to lower interest rates

The State Bank of Vietnam (SBV) has just issued decisions to adjust interest rates in order to contribute to controlling inflation, stabilizing the macro economy, and the money market to strive to reduce interest rates lending to businesses and people, supporting economic growth recovery.

Vietnam: Additional conditions for registration of multi-level selling activities

On April 28, 2023, the Government has just issued Decree No. 18/2023/ND-CP amending and supplementing a number of articles of Decree No. 40/2018/ND-CP dated March 12, 2018 on operation management business by multi-level method.

Vietnam: Recent Changes to Regulations Governing Corporate Bonds Issued in Vietnam

In response to the domestic market’s needs, Decree No. 08/2023/ND-CP aims to untie some knots for bond issuers with key changes governing corporate bonds, as discussed in this article.

Vietnam: KPMG Legal Update On Interest Rates, Reducing VAT, Reducing Land and Water Surface Rental

In this legal update: 1) Decisions regulating maximum short-term lending interest rate and interest rate for deposits in Vietnam Dong at credit institutions and foreign bank branches, Draft Decree on value added tax (VAT) reduction policy of 2%, and Draft Resolution on reducing land rental and water surface rental.

Cambodia: Bolar Provisions Under Cambodian Patent Law

Cambodian Patent Law contains no corollary to the concept of a "Bolar Provision" under US-Law. This is a limitation of patent rights that allows for certain uses of a patented invention, which otherwise would be infringing, for the sole purpose of generating information for seeking regulatory approval in a country.

Cambodia Adopts Implementing Regulation for the 2021 Investment Law – Part Two – QIP Incentives

Vietnam Introduces a Reduced VAT Rate from 1 July 2023

On 30 June 2023, the Government of Vietnam issued Decree No. 44/2023/ND-CP stipulating a reduction of the VAT rate by 2% (“Decree 44”). Decree 44 was issued to implement the VAT rate reduction policy passed by the National Assembly in accordance with Resolution No. 101/2023/QH15.

Cambodia: Trademarks When Starting a Business in Cambodia

When starting a business in Cambodia, it is essential to understand the trademark registration process to protect your brand identity and prevent others from using similar marks. This update covers some key points regarding trademark registration in Cambodia.

Cambodia Adopts Implementing Regulation for the 2021 Investment Law – Part One

On 26 June 2023, the Royal Government of Cambodia adopted Sub-Decree 139 (“Sub-Decree 139”) to establish a comprehensive legal framework for implementing the Investment Law dated 15 October 2021 (“2021 Investment Law”). The 2021 Investment Law introduces new regulatory framework to regulate investment projects and new investment incentives.

Myanmar: Trademark Disputes - Deciphering the Jurisdictional Labyrinth

This article covers the recent notification by the Supreme Court that establishes IP Courts and grants them the power to handle trademark cases. The notification is a major development for trademark protection and enforcement in Myanmar.

Cambodia: Key Tariff Adjustments Under Sub-Decree 122

On 6 June 2023, the Royal Government of Cambodia issued Sub-Decree 122 on the Adjustment to Customs Tariff, Specific Tax, and Export Tax Rates on certain goods. The Sub-Decree 122 aims to address inflation and promote trade activities in Cambodia.

Vietnam: Transfer of Wind Power Projects to Foreign Businesses

Cambodia: Annual Labour Compliance Obligations

The Ministry of Labour and Vocational Training issued Prakas 358/21 on Launching of Self-declared Labour Inspection and Labour Inspections through Automatic System on 30 December 2021, introducing a new online self-declared labour inspection system.

Myanmar: Introduction of CBM’s Online Forex Trading Platform

On 21 June 2023, the Central Bank of Myanmar issued a letter to authorized dealer banks, assigning them the responsibility of reporting forex trading activities in the market. The letter emphasized the mandatory use of the CBM's online trading system for all transactions conducted between AD banks and customers and among customers.

Vietnam: How does the Vietnamese law regulate anti-money laundering?

Venture North Law's Legal Guide To Merger Control In Vietnam (2023 Update)

In December 2020, we published a comprehensive Legal Guide To Merger Control In Vietnam (see here). In April 2023, the Government established the Vietnam Competition Commission (VCC). On this occation, we update our legal guide to reflect the establishment of the VCC.

Mazars in Vietnam Newsletter - Tax & Legal Update - Issue June 2023

In this update: 1) Official Letter 1789/TCT-TTKT on appealing review and handling of illegal invoices, 2) Reaching consensus on the scope of applying reduction of VAT rate to 8% according to Resolution 43/2022/QH15, and Official Letter 1586/TCT-CS issued by GDT dated 11 May 2023 guiding VAT declaration per the seller’s e-invoices.