Updates
Papua New Guinea: Changes to the Companies Act certified
- Allens PNG
The Companies (Amendment) Act 2022 requires that every company incorporated, or registered as an overseas company, under the Companies Act will be required to re-register under it and to comply with more detailed record-keeping requirements in relation to share ownership.
Increase in Minimum Wage for 2023 for the Garments, Textiles, Footwear, Travel Products and Bags Sectors
- DFDL Cambodia
On 21 September 2022, the Ministry of Labour and Vocational Training (“MLVT”) issued Prakas 247/22 on the Determination of Minimum Wage for Workers in the Garment, Textile, Footwear (“GTF”), Travel Product and Bag Sectors (“Prakas 247”), to set a new minimum wage for 2023, which will be effective from 1 January 2023.
Vietnam: Promoting the foreign exchange administration in respect of taking and repaying foreign loans of enterprises
- ADK Lawyers
In this update: Promoting the foreign exchange administration in respect of taking and repaying foreign loans of enterprises.
Vietnam: Strengthening the enforcement of copyright protection for radio and television services
- ADK Lawyers
Decree 71/2022/ND-CP amends some articles of Decree 06/2016/ND-CP on the management, provision and use of radio and television services. In particular, the provisions on copyright for content on radio and television services have been supplemented.
Vietnam: End of support period for unemployment insurance contribution rate according to Resolution 116/NQ-CP
- ADK Lawyers
Previously, on 24 September 2021, the Government issued Resolution 116/NQ-CP on policies to support employers affected by the COVID-19 pandemic from the Unemployment Insurance Fund. The support period according to the Resolution has expired since 01 October 2022
Myanmar: Central Bank of Myanmar Allows Fuel Import Repayments in Chinese Yuan
- DFDL Myanmar
On 30 September 2022, the Foreign Exchange Supervisory Committee of the Central Bank of Myanmar (“CBM”) issued Letter No. FE-73 (23/2022), allowing fuel import entities to make repayments of financing agreements in Chinese yuan (“RMB”) in a bid to prevent delays in oil distribution to consumers in Myanmar.
Major changes to private issuance of corporate bonds in Vietnam
- Venture North Law Firm
In response to the recent Scandals of private issuance of corporate bonds, the Government has introduced several major changes to Decree 153/2020 on private issuance of corporate bonds in Vietnam.
Myanmar: Update on Taxation in Myanmar Following The Union Taxation Law 2022
- BNG Legal
This newsletter will provide an overview of the taxation system of Myanmar following the Union Taxation Law of 2022.
OECD releases Vietnam’s second MAP peer review report
- PwC Tax & Advisory Vietnam
The OECD has published “Making Dispute Resolution More Effective – MAP Peer Review Report, Vietnam (Stage 2)”, detailing actions Vietnam has taken and will take to improve its mutual agreement procedure (“MAP”) to meet the requirements of Action 14 of the OECD’s Base Erosion and Profit Shifting (“BEPS”) initiative.
Is it a privilege for an employer to renew a work permit of its foreign employees in Vietnam?
- BLawyers Vietnam
Through this article, BLawyers Vietnam would like to introduce the conditions for extending WPs for foreign employees and whether this is a privilege of employers.
Can a non-contractual claim be settled by commercial arbitration in Vietnam?
- Venture North Law Firm
Vietnamese law is not clear that a non-contractual claim (i.e., a claim which is not based on a breach of contract) could be settled by commercial arbitration. However, Vietnamese courts seem to take the view that non-contractual claims cannot be settled by commercial arbitrations.
Vietnam: Guidance for using masks to prevent and control the COVID-19 pandemic in public places
- BLawyers Vietnam
The Ministry of Health issued Decision No. 2447/QD-BYT dated 06 September 2022 guiding the use of masks to prevent and control the COVID-19 pandemic in public places with the following notable contents.
Registration and management of operation of foreign non-governmental organizations in Vietnam
- BLawyers Vietnam
The Government issued Decree No. 58/2022/ND-CP dated 31 August 2022 on registration and management of operation of foreign non-governmental organizations in Vietnam with the following contents.
Can a small-size Vietnamese joint stock company operate without an inspection committee and an independent director?
- Venture North Law Firm
Article 137 of the Enterprise Law 2020 provides that a joint stock company (JSC) can decide to organise itself in accordance with the two options, as discussed herein.
Vietnam: Regulations on electronic identification and authentication
- BLawyers Vietnam
The Government issued Decree No. 59/2022/ND-CP dated 05 September 2022 providing for electronic identification and authentication with the following notable contents.
Myanmar: Microfinance Supervision Committee Issues Anti-Money Laundering Guidelines for MFIs
- DFDL Myanmar
On 13 September 2022, the Microfinance Supervision Committee under the Ministry of Planning and Finance issued Directive No.4/2022 which outlines risk-based management strategies required of microfinance institutions (“MFIs“) to combat money laundering and terrorism.
Myanmar: Competition Commission’s Advertising Guidelines
- DFDL Myanmar
On 25 March 2020, the Myanmar Competition Commission issued Directive No. 2/2020 under Section 56, Subsection (b) of the Competition Law. The directive aims to prohibit unfair advertising practices, ensure fair competition among businesses, and protect the public and consumers from potential harm.
Vietnam: New regulations on measures to request removal of online information
- Apolat Legal
In this update: 1) New regulations on measures to request removal of online information with humiliating, slanderous, fabricated and untrue content, 2) Proposing additional authority to approve foreign exchange operations.
Changes to Tax on Income and Tax on Salary Tables
- DFDL Cambodia
Sub-Decree No. 196 (“Sub-Decree 196”) was issued on the 28th of September 2022 by the Royal Government of Cambodia and concerns an amendment to the Tables of Taxable Thresholds for Annual Tax on Income and Monthly Tax on Salary.
Protecting Vietnamese Crypto Organizations From Unwieldy Regulation
- Indochine Counsel
Vietnam has recently been ranked as the world’s leading adopter of cryptocurrency with more per capita adoption than either the USA or China. But what about other blockchain technologies?
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