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Myanmar: Key Changes under the SAC’s 2023 Union Tax Law

On 30 March 2023, the State Administration Council enacted the 2023 Union Tax Law, which clarifies the tax rates and related procedures concerning income tax, commercial tax, and specific goods tax. This new law is effective on 1 April 2023 or the start of the new financial year 2023-2024 in Myanmar.

Myanmar: New Requirements for Newly Incorporated Companies for Annual Returns

The Directorate of Investments and Company Administration (“DICA“) announced on 1st April 2023 regarding the additional requirements when the annual return is submitted by the companies to DICA within two months after registering their company under the Myanmar Companies Law, to better combat Anti-Money Laundering and Terrorism Financing.

Myanmar: Trademark Registration Grand Opening Scheduled for 26th April 2023

The opening of trademark registration for old and new trademarks will be launched on 26th April 2023. A mark intended for use without actual use in the Myanmar market will also be accepted. A new mark not in use at the time of registration will have to be used within three years from registration.

Myanmar: Notification Setting out Service Fees for Mark Registration Application

On 1 April 2023, the Intellectual Property Rights Agency issued the Notification that sets out service fees for mark registration applications via Notification No. 1/2023 as per the Section 106 (d) of the Trademark Law with the approval from the Ministry of Commerce to implement the Trademark Law of 2019 (“Law”) and the Mark Registration Rules of 2023.

Vietnam: Overview of international trademark registration

The registration for trademark protection in the market, especially the foreign market helps to protect the trademark’s owner and creates a basis for handling trademark infringement, limiting copying or negotiating a licensing agreement, franchise agreement or other agreements. This article will demonstrate some issues for trademark registration abroad.

PNG: Changes to the Companies Act: Re-registration

On 1 December 2022, the Companies (Amendment) Act 2022 (the Amendment) came into operation and started the clock ticking for all existing companies to apply for re-registration by 1 December 2023, or risk being de-registered. But there is a hidden trick to re-registration. In this Insight, we explore what this means.

Vietnam: Is it possible to settle the disputes related to IP rights by Commercial Arbitration in Vietnam?

Recently, international commercial arbitration tends to broadly accept the settlement of disputes related to intellectual property (“IP”) rights by Arbitration. However, in Vietnam, the regulations on the jurisdiction of Commercial Arbitration over the disputes related to IP rights are not clear.

Donation of an enterprise’s properties and notes under Vietnamese laws

Vietnam: Reducing land rental and water surface rental for subjects affected by the Covid-19 pandemic

Vietnam: Obligation to pay value-added tax when providing services abroad

The Tax Department of Hanoi City issued Official Letter No. 4423/CTHN-TTHT dated 09 February 2023 on the value-added tax obligations when implementing projects abroad. Accordingly, the Tax Department responded to the Official Letter re CK Engineering Vietnam Co having problems determining value-added tax obligations when implementing a project abroad with the specific comments, as discussed in this update.

Thailand: Amendment of Thailand’s Labour Protection Act for Work-from-Home and Remote Working Arrangements

On 19 March 2023, the Labour Protection Act was published, effectively amending the Thai Labour Protection Act by adding a section to provide the requirements for work-from-home or remote working arrangement. This update outlines the new requirements.

Vietnam: Solutions for removing and promoting the real estate market’s safe, healthy and sustainable development

The Government issued Resolution No.33/NQ-CP dated 11 March 2023 on several solutions to remove difficulties and promote safe, healthy, sustainable development of the real estate market with some notable contents.

Vietnam: One-way money transfers from Vietnam to abroad, Circular 20/2022/TT-NHNN

The State Bank of Vietnam issued Circular No. 20/2022/TT-NHNN dated 30 December 2022 on guidelines for one-way money transfer from Vietnam to abroad and payment, money transfer for other current transactions of residents being organizations and individuals

Vietnam: Compensation by asset for employees working in dangerous, hazardous conditions

The Ministry of Labour – Invalids and Social Affairs (“MOLISA”) issued Circular No. 24/2022/TT-BLDTBXH dated 30 November 2022 regulating the compensation by asset for employees working in dangerous, hazardous conditions. The key provisions are discussed here.

Cambodia: Tax Filing Issues

Cambodia’s self-assessment system means annual TOI declarations become very important documents: they play a major role in the tax audits that are undertaken by the GDT. This legal update explores common issues seen arising in tax audits.

Cambodia Adopts a Merger Clearance Regulations

The Royal Government of Cambodia has issued the Sub-Decree on Requirements and Procedures for Business Combinations dated 6 March 2023 (“Merger Sub-Decree”). The Merger Sub-Decree elaborates on the prohibition on anti-competitive business combinations set out in Article 11 of the Law on Competition.

Myanmar: Coming in Force of Long-Awaited Myanmar Trademark Law

On 10 March 2023, the State Administration Council (“SAC”) made effective the Trademark Law (“TL”). The Notification No. 82/2023 provides 1st April 2023 as the effective date for the TL to come into effect.

Vietnam: Resolution No. 33/NQ-CP 2023 - Measures to Resolve and Promote Safe, Healthy, and Sustainable Real Estate Market Development

In March 2023, the Vietnamese Government issued Resolution No. 33/NQ-CP on some measures to remove barriers and promote the real estate market’s safe, healthy, and sustainable development.

Vietnam: The draft decree amending Decree 65/2022/NĐ-CP on private placement and trading of corporate bonds

Decree 65/2022/NĐ-CP has revealed its shortcomings in the current domestic and international bond markets. Therefore, on March 12th, 2023, the Ministry of Finance submitted a draft decree amending and supplementing Decree 65 including new policies to benefit investors and bond-issuing companies.

Vietnam: Derivatives investment by non-resident foreign investors through bond futures

Vietnam: What are the possible offenses relating to derivatives investment by non-resident foreign investors through bond futures transactions?