Updates
Cambodia: Trust Inspection: Formalities and Procedures
- DFDL Cambodia
The Law on Trusts promulgated on 2 January 2019 provides the legal framework for the creation, registration and inspection of trusts in Cambodia. To facilitate the implementation of the Trust Law, the Trust Regulator on 3 November 2022 issued Prakas 051 on the Formalities and Procedure for Inspection of Trusts.
Myanmar: MOPF Issues New Tax Procedures on Foreign Currency Transfers
- DFDL Myanmar
On 25 April 2023, the Ministry of Planning and Finance (“MOPF”) issued a new Standard Operating Procedure (“SOP”) outlining the additional tax requirements when remitting foreign currency payments from Myanmar to overseas.
Vietnam's PDP VIII: Ushering in a Renewable Energy Investment Era
- Indochine Counsel
Vietnam's long-awaited Power Development Plan VIII ("PDP8") has finally been approved by the Government. This strategic blueprint, steering Vietnam's energy sector for the next decade, offers significant opportunities for investors, particularly in the renewable energy field
Vietnam: Offshore indirect investment procedures – List of 19 frequently asked questions and answers
- BLawyers Vietnam
BLawyers Vietnam provides an overview of offshore indirect investment in this FAQ article. We present the conditions and principles for transferring capital for offshore indirect investment, and profit remittance when carrying out an offshore indirect investment pursuant to the prevailing law of Vietnam.
Vietnam: Three notes on installing and advertising business on LED screens outside buildings
- BLawyers Vietnam
Currently, buildings have a trend of installing LED screens outside for advertisement service business. In this article, BLawyers Vietnam will point out three notes regarding installation and advertising business on outdoor LED screens.
Vietnam: How are enterprises fined for violating regulations concerning payment of health insurance premiums for employees in Vietnam?
- BLawyers Vietnam
Enterprises violating regulations on payment of health insurance premiums for employees is an act occurring in several places in Vietnam. BLawyers Vietnam points out some regulations and notes regarding this matter.
Vietnam: Key points of Vietnam Power Development Plan VIII (PDP8)
- LNT & Partners
The Vietnam Power Development Plan VIII (PDP8) has been released. This update discusses several key takeaway points including grid development, onshore and offshore wind, solar, LNG, coal and hydropower.
Vietnam: Response to the GloBE model rules: Some key considerations for Vietnam
- EY Vietnam
Vietnam, in choosing not to introduce legislation to implement Pillar Two of the Global Anti-Base Erosion model rules (GloBE model rules), means that tax incentives provided in Vietnam may be “clawed back” in another country. EY Vietnam explains in this article.
Vietnam: Late Payment Interest: The Matrix and Some Implication to Manage the Caps
- LNT & Partners
In Vietnam, overdue payment often comes along with late payment interest (LPI). As a rule of thumb, under Articles 357 and 468 of the Civil Code 2015, an obligor failing to pay timely is subject to paying LPI as agreed between the contractual parties; unless otherwise provided by other relevant laws, this LPI is capped at 20% per annum or 1.667% per month.
Vietnam Government Issues Guidance on Anti-Money Laundering
- DFDL Vietnam
The Government of Vietnam issued Decree No.19/2023/ND-CP dated 28 April 2023 (“Decree 19”) to provide guidance for the Law on Anti-Money Laundering.
Vietnam: Renewable Energy Policy Framework
- LNT & Partners
Renewable energy policy: 1. Pillar regulators governing the process for renewable power projects, 2. Promotion measures in renewable energy for foreign investors: (1) Feed-in-Tariff & tax incentives; (2) Investment credit incentives; (3) Land incentives; (4) Incentivizing research on renewables for high-tech.
Vietnam: Development on Data Privacy Regulation of Vietnam
- Lexcomm Vietnam LLC
The long-awaited centralized regulation on data privacy has now been formally promulgated by the Government of Vietnam – under the Government Decree No. 13/2023/ND-CP on Personal Data Protection (Decree 13) on 17 April 2023.
Vietnam: Decree 10 Amending Articles of Decrees Guiding the Implementation of the Law on Land
- LNT & Partners
On April 03, 2023, the Vietnamese Government issued Decree 10, amending and supplementing some articles of decrees guiding the implementation of the Law on Land. Decree 10, taking effect from May 20, 2023, will address certain difficulties and obstacles for localities, people, and businesses.
Vietnam: New decree guiding the Intellectual Property Law on copyright and related rights
- Apolat Legal
With the risk of stolen works and copyright increasingly common, threatening IP rights in general and copyright and related rights in particular, in order to protect the rights of authors and related people, Vietnam has issued Decree 17/2023/ND-CP guiding the Intellectual Property Law on copyright and related rights.
Vietnam: Private placement and trading of privately placed bonds in domestic and international markets
- BLawyers Vietnam
The Government issued Decree No. 08/2023/ND-CP dated 05 March 2023 on several regulations on the offering and transactions of individual corporate bonds in the domestic and international markets with some notable content.
Cambodia: ACAR Filing Extended to 15 June 2023
- DFDL Cambodia
Notification 020/23 was issued by the Accounting and Auditing Regulator on the 12th of May 2023 concerning the Extension to Submit Annual Financial Statements for the 2022 financial year for Enterprises and Non-Profit Organizations that are not subject to independent financial audits.
Vietnam: Some prominent legal instruments take effect from April 2023
- ADK Lawyers
April legal instruments: 03/2023/ND-CP, 391/QD-BTC, 03/2023/TT-BCT, 25/2022/TT-BLDTBXH, 11/2022/TT-NHNN, 13/2023/TT-BTC, and 02/2023/TT-BXD.
Vietnam: Allowing electronic bank guarantees
- ADK Lawyers
On September 30, 2022, The State Bank Of Vietnam issues Circular No. 11/2022/TT-NHNN prescribing bank guarantee. Circular No. 11/2022/TT-NHNN has supplemented regulations on electronic guarantee activities, allowing credit institutions and customers to conduct banking guarantee activities by electronic method.
Vietnam: Amendment of the application dossier for VAT refund for investment projects
- ADK Lawyers
On February 28, 2023, The Ministry of Finance has issued Circular No. 13/2023/TT-BTC guiding the implementation of Decree No. 49/2022/ND-CP.
Navigating Vietnam’s New Anti-Money Laundering Law: Key Changes and Updates
- Indochine Counsel
On 15 November 2022, the National Assembly passed the Law on Anti-money Laundering No. 14/2022/QH15, which came into force from 1 March 2023 and replaced the Law on Anti-money Laundering 2012.
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