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Vietnam: Cases where individuals and organizations are entitled to register asset-based security

On November 30, 2022, the Government issued Decree No. 99/2022/ND-CP on security registration (hereinafter referred to as “Decree 99/2022/ND-CP”).

Vietnam: New electricity generation price for transitional wind and solar power plants – Rescue signal for renewable energy projects in Vietnam?

Cambodia: Additional Measures to Mitigate the Economic Impact of Covid-19 and Support the Recovery of the Tourism Sector

The Royal Cambodia Government issued a press release on 30 Jan 2023 on the Additional Measures to Mitigate the Economic Impact of Covid-19 and Support the Recovery of the Tourism Sector. The Government will continue its relief measures to mitigate the economic impact of Covid-19 and support the tourism sector.

Vietnam: Facilitating foreign investors related to insurance business in Vietnam

On June 16, 2022, the National Assembly passed the Law on Insurance Business. The expectation is that this Law will, in addition to ensuring the implementation of Vietnam's commitments in the WTO and signed trade agreements, create favourable conditions for foreign investors in the field of insurance business.

Cambodia Tax Alert: Non-Resident VAT E-Commerce Update

Instruction No. 2520 GDT on the Adjustment on the Implementation of Value Added Tax on E-Commerce Transactions (Instruction 2520) was issued by the General Department of Taxation (GDT) on the 24th of January 2023.

Vietnam: The value-added tax rate imposed on the supply of goods and services returns to 10% in 2023

The National Assembly has approved the policy of reducing 2% of VAT in 2022 for goods and services currently subject to 10% VAT, except for specific goods and services including : telecommunications, financial activities, banking activities, securities, insurance, real estate, and metal and mining products, among others. This means that the VAT rate for the above goods and services is only 8%.

Vietnam: FAQ On Injunction Orders For Civil Disputes

This FAQ on Injunctions for Dispute Resolution was designed to address the current global situation, notably for economies facing distress and possible downturn in the aftermath of the Covid-19 pandemic and those impacted by political instability by the conflict in Ukraine. The first of these FAQ editions covers Lao PDR, Myanmar, Thailand and Vietnam.

Myanmar: FAQ On Injunction Orders For Civil Disputes

This FAQ on Injunctions for Dispute Resolution was designed to address the current global situation, notably for economies facing distress and possible downturn in the aftermath of the Covid-19 pandemic and those impacted by political instability by the conflict in Ukraine. The first of these FAQ editions covers Lao PDR, Myanmar, Thailand and Vietnam.

Cambodia: Clarification on Advance Tax on Dividend Distribution

The Advance Tax on Dividend Distribution (ATDD) is a mechanism under which Tax on Income (TOI) is calculated at the time when a Cambodian enterprise distributes pre-taxed earnings.

Thailand: FAQ On Injunction Orders For Civil Disputes

This FAQ on Injunctions for Dispute Resolution was designed to address the current global situation, notably for economies facing distress and possible downturn in the aftermath of the Covid-19 pandemic and those impacted by political instability by the conflict in Ukraine. The first of these FAQ editions covers Lao PDR, Myanmar, Thailand and Vietnam.

Laos: FAQ on Injunction Orders for Civil Disputes

This FAQ on Injunctions for Dispute Resolution was designed to address the current global situation, notably for economies facing distress and possible downturn in the aftermath of the Covid-19 pandemic and those impacted by political instability by the conflict in Ukraine. The first of these FAQ editions covers Lao PDR, Myanmar, Thailand and Vietnam.

Myanmar: DOCA Issues New Guidelines for Product Recalls and Bans

On 20 December 2022, the Department of Consumer Affairs (“DOCA”) issued a directive which established guidelines for the “recalling and the permanent/temporary ban on the sales and distribution of perilous goods and services” (“Directive”). The Directive provides DOCA with a process for recalling perilous goods and services – hereby referred to as “products” – and the procedures to be followed by the owners of products considered to be perilous.

Cambodia: ACAR Deadline for submission of Financial Statements

On the 27th of December 2022 the Accounting and Auditing Regulator (“ACAR”) issued a reminder regarding the submission obligations relating to the 2022 financial statements of enterprises in Cambodia. In summary enterprises that are not required to obtain an external independent audit of their 2022 financial statements.

Cambodia: Key Processes for the Negotiated Trading Method of Securities

As the stock exchange market in the country develops, in addition to the regular auction trading method, block trades or special crossings (via the NTM) are also permitted, whereby the buyer and seller of listed shares can directly negotiate and agree upon the conditions of their transaction.

Cambodia: Clarification on Advance Tax on Dividend Distribution

Cambodian Advance Tax on Dividend Distribution (ATDD) is a mechanism under which Tax on Income (TOI) is calculated at the time when a Cambodian enterprise distributes pre-taxed earnings.

Cambodia: Investigation Procedures for Offenses under the Competition Law and Incentives for Reaching a Negotiated Settlement

On 4 November 2022, the Ministry of Commerce of Cambodia issued two new regulations, namely, Prakas 226 on Formalities and Procedures of Inspection and Investigation under the Law on Competition and Prakas 227 on Negotiated Settlement under the Law on Competition.

Cambodia: Changes to Tax on Income and Tax on Salary Tables

Following the enactment of Sub-Decree No. 196 (“Sub-Decree 196”) on the 28th of September 2022 by the Royal Government of Cambodia (click here ) the Ministry of Economy and Finance (MEF) issued Instruction 017 on the 27th of December 2022 on the Implementation of the new rates of Tax on Salary.

Cambodia: Foreign Employee Work Permit Application Deadline is Approaching

The deadline to apply for 2023 foreign employee work permits from the Ministry of Labour and Vocational Training, is 31 March 2023. This obligation applies to every employer in Cambodia employing foreign employees, including representative offices, branches, limited companies, NGOs and associations.

Central Bank of Myanmar Exempt Foreign Companies From Mandatory Forex Conversion

On 30 December 2022, the Central Bank of Myanmar issued letter No. FE-1/2861(Ka) concerning the Foreign Exchange Supervisory Committee Meeting Resolution No. (78/2022), where Paragraph 1 (d) states that foreign currencies of companies with more than 35% of foreign shareholding do not need to be mandatorily converted into Myanmar Kyat.

Vietnam: Management of environmental risks in credit granting activities of credit institutions, and foreign bank branches

In this newsletter: 1) Management of environmental risks in credit granting activities of credit institutions, and foreign bank branches, 2) Regulations on connection, sharing, and exploitation of information between the National Population Database with the national database, specialized databases, and other information systems