Updates
Vietnam: New Law on Credit Institutions - Remarkable Changes
- RHTLaw Vietnam
The National Assembly of Vietnam adopted the new Law on Credit Institutions in January 2024 which is scheduled to come into effect on 1 July 2024. This legislative update aims at preserving stability, transparency, and public confidence in the Vietnamese financial system.
Vietnam: Tax and Transfer Pricing Aspects of Providing Intragroup Management Services
- DFDL Vietnam
Intra-group management services are a controversial and highly debated tax issue in Vietnam. This article discusses Vietnam’s Benefits Test, pricing for intragroup services, relief under tax treaties, deductibility of intra-group management service fees, and practical tips and recommendations for taxpayers to manage Vietnamese tax risks.
Cambodia: Ten Years of Cambodia's Geographical Indications Law
- Abacus IP
In January 2014, Cambodia made a historic move to protect and celebrate its rich cultural and agricultural heritage by enacting the Law on Geographical Indications. As we commemorate the ten-year anniversary of this significant legislation, we'll consider the benefits of geographical indications, the registration procedures, and the products already registered, as well as those currently under consideration.
Cambodia: Changes to Patent Annuity Payments
- Abacus IP
Important changes to the annuity system for patents in Cambodia were recently announced, which will require patent applicants and owners to properly and timely make payments in order to maintain their rights. The new rules also apply to utility models and plant variety protection.
Myanmar Industrial Design Law: A Comprehensive Guide
- DFDL Myanmar
Myanmar has made significant progress in updating its intellectual property regime. This article is from a series of articles on IP laws in Myanmar focusing on Industrial Design laws and regulations, and provides a an overview on the registration process and the legal implications of industrial design infringement.
Myanmar: The Issuance of the Agent Banking Services Directive
- DFDL Myanmar
On 6 February 2024, the Central Bank of Myanmar issued a directive on agent banking services to provide comprehensive access to financial services to people who do not have access to banking services and to increase overall participation in the financial system.
Laos Issues Guidance on VAT Obligations for Digital Goods and Services, Digital Platforms, and E-commerce
- DFDL Lao PDR
On 14th February 2024, the Ministry of Finance in Laos released a new instruction numbered 0558/MOF. This instruction deals with the VAT obligations for foreign suppliers of digital goods and services, digital platforms, and e-commerce to users in Laos. The new rules will apply to transactions starting from 1st August 2024.
Myanmar-India Border Trade Rupee Vostro Account Guidelines
- DFDL Myanmar
As of 25 January 2024, the Central Bank of Myanmar issued detailed guidelines for a new payment mechanism for India-Myanmar border trade. This mechanism utilizes the Special Rupee Vostro Account and these Guidelines are framed within the legal framework of the Foreign Exchange Management Law.
Cambodia: Accreditation of the Environmental Impact Assessment Consultant Companies in Cambodia
- DFDL Cambodia
Following the promulgation of the Environmental and Natural Resources Code dated 29 June 2023 and the requirements of the Ministry of Environment, the MOE issued Prakas 08 on 02 February 2024 outlining the Conditions and Procedures regarding Accreditation of the Environmental Impact Assessment Consultant Companies.
Myanmar: Notification Establishing Service Fees for Copyright Registration
- DFDL Myanmar
On 13 February 2024 the Ministry of Commerce, having issued a comprehensive list of copyright application forms followed up with specific service fees based on the categories of services for the registration of copyrights and other related rights. Please refer to the table herein for detailed information.
Malaysia Transfer Pricing Guidelines
- DFDL Malaysia (Robyn Lynn & Lee)
Recent Malaysian tax information: 1) When does a Malaysian taxpayer need to prepare TP documentation? 2) What to include in the TP documentation? 3) How do you determine arm’s length price?
Vietnam: Mazars IFRS Newsletter – December 2023
- Mazars Vietnam
In this update: 1) IFRS will impact many areas of your company’s business beyond the accounting and finance departments, and 2) The adoption of IFRS brings with it threats, but also presents opportunities.
Vietnam: Comments on New Law on Real Estate Business 2023 – Part 2
- Venture North Law Firm
In this article, we continue discussing the new changes introduced by the Real Estate Business Law 2023.
Vietnam: Co-Location and Convergence - Telecoms under Vietnam’s Amended Law on Telecommunications
- DFDL Vietnam
On 24 November 2023, the Vietnamese National Assembly passed the Law on Telecommunications No. 24/2023/QH15, governing telecommunications activities, the rights and obligations of individuals and entities engaged in telecommunications activities, and the state management of the telecommunications sector.
Vietnam: Circular 19 - Pricing mechanism for new solar and wind power projects
- Allens Vietnam
Ever since feed-in tariffs (FiTs) expired for solar power projects (31 December 2020) and wind power projects (31 October 2021), the Vietnamese Government has prevaricated over the legal framework. The recent Circular 19 lays the groundwork for the post-FiT reality for solar and wind power projects.
New Law on Credit Institutions 2024 (Part 1)
- Venture North Law Firm
On 18 January 2024, new Law on Credit Institutions (LCI 2024) has been passed by the National Assembly. LCI 2024 will replace the Law on Credit Institutions 2010 (as amended) (LCI 2010) from 1 July 2024. In a series of posts, we will introduce the new changes of LCI 2024.
Vietnam: E-signatures of individuals under the Law on E-Transaction 2023
- Venture North Law Firm
On 22 June 2023, the National Assembly passed a new Law on Electronic Transactions, set to be effect from 1 July 2024. The new Law introduces significant changes regarding the use of e-signatures by individuals as outlined in this update.
Vietnam: Notable changes under the Law on Real Estate Business 2023
- PwC Legal Vietnam
The National Assembly has passed the Law on Real Estate Business No. 29/2023/QH15 (“LOREB 2023”) which will become effective on 1 January 2025 and replace the current Law on Real Estate Business.
Vietnam: Customs & Global Trade Updates - January 2024
- EY Vietnam
This update covers: Decree on VAT reduction for the first 6 months of 2024, Switzerland officially abolishes import duty on industrial products, The Ministry of Industry and Trade issued a List of potentially unsafe products and goods, and Official Letters (OLs) on: 1) Guidance on the application of VAT reduction at importation, 2) The issuance of electronic Certificates of Origin (e-C/O), 3) C/O Form D verification website The State inspection for Food Safety and Hygiene (FSH) of imported goods, and others.
Vietnam: Progresses with Personal Data Protection Law
- KPMG Law Limited
After the issuance of the Personal Data Protection Decree in 2023, Vietnam’s Ministry of Public Security is currently spearheading the development of a comprehensive Personal Data Protection Law, aiming to harmonize data protection regulations and bring them in line with global standards.
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