Know how

Vietnam: New Circular supporting small and medium innovative businesses; Supporting loans of 2% per year

In this update: 1) New Circular supporting small and medium innovative businesses, 2) Supporting interest rate of 2%/year from the state budget with loans from businesses

Vietnam Legal Updates - Vol. 41: Finalizing a Decree on customs management with goods transacted via e-commerce

In this update: 1) Suspension of Covid-19 test requirements before entering Vietnam, 2) Preventing tax loss in real estate transfer, 3) Finalizing a Decree on customs management with goods transacted via e-commerce

Vietnam Legal Updates - Vol. 40: Guidance on business conditions for rooftop solar power

In this update: 1) Guidance from the Ministry of Industry and Trade to business conditions for rooftop solar power, and 2) Draft Decision on piloting the direct trading mechanism between renewable energy generators and large electricity clients

Vietnam: Ministry of Finance issues Letter on combating tax loss in business activities and real estate transfer

In this update: 1) Temporarily suspending medical declaration for people entering Vietnam, 2) The Ministry of Finance issued Official Letter 3849/BTC-TCT on combating tax loss in business activities and real estate transfer.

Vietnam Weekly Update - 12 May 2022

Cập Nhật Hàng Tuần Việt Nam - 12 Thang 05 2022

In this update: 1) Guidance on the implementation of business investment projects, and 2) Frequently asked legal questions category

New Resolution Loosening Employees' Overtime Cap

To support enterprises to deal with the labor shortage during the Covid-19 pandemic, on 23 March 2022, the Standing Committee of the National Assembly of Vietnam passed Resolution 17 to loosen the overtime limit of employees as compared to the Labor Code 2019.

Sending of notices under VIAC’s rules

A party to an arbitral proceedings under VIAC’s Rules must send its notice and other submission to VIAC which will then forward the notice and submission to the other parties to the proceeding.

Requirement for contracting parties’ consent in case of de-merger of a Vietnamese company

In the case of a de-merger of a Vietnamese company, must the remaining company comply with the procedures for transferring contractual rights and obligations under the Civil Code 2015 including obtaining consents from its contracting parties?

Cambodia: Issue of Sub-Decree on the Organization and Functioning of the Competition Commission

On 17 February 2022, Cambodia issued the Sub-Decree on the Organization and Functioning of the Cambodia Competition Commission. The Sub-Decree provides the structure and function for the Cambodia Competition Commission, the regulatory authority designated under the Law on Competition.

Cambodia: Extended Deadline for Foreign Employee Work Permit Applications Approaching

On 28 March 2022, the Ministry of Labour and Vocational Training issued Notification 011/22 to extend the deadline for foreign employee work permit applications to 31 May 2022 to help foreign employees who are not able to renew or apply for work permit on time in light of the COVID-19 outbreak.

Legal Regulations On Receiving A Non-Refundable Sponsorship By a Subsidiary In Vietnam From Its Foreign Parent Company

The transfer of a non-refundable sponsorship to a subsidiary by its Parent Company is defined as a one-way money transfer, and as a current transaction. This article discusses such sponsorship transactions.

Vietnam: Proposing new regulations on refinancing on the basis of special bonds of credit institutions

In this update: 1) Guidance on implementing regulations on increasing overtime, 2) Proposing new regulations on refinancing on the basis of special bonds of credit institutions.

Vietnam Weekly Update - 30 April 2022

Cập Nhật Hàng Tuần Việt Nam - 30 Thang 04 2022

In this update: 1) The Corporate Income Tax (“CIT”) policy upon relocation of business head office, 2) Guidance on canceling invoices

Vietnam Legal Updates - Vol. 39: Draft on peer-to-peer lending trial

In this update: 1) Draft on peer-to-peer lending trial, 2) Reduction of environmental protection tax rates for petrol, oil and grease, and 3) Increase the number of overtime working hours in the context of Covid-19 pandemic. prevention and control

Circular 24/2022 amending Circular 48/2019 regarding making provisions

On 7 April, the Ministry of Finance issued Circular 24/2022/TT-BTC amending Circular 48/2019 regarding the provision for devaluation in investment in government bonds, municipal bonds and government-guaranteed bonds. Circular 24/2022 takes effect from 25 May 2022.

Myanmar: Deadline Nears for Companies and Non-profits to Register for Tax ID Number

The Ministry of Planning and Finance issued Notification 20/2022 on 31 March 2022 reiterating that companies and non-profit organizations were required to obtain a Taxpayer Identification Numbers with the Internal Revenue Department.

Toksave - Allens PNG Regulatory Update - April 2022

This update covers: 1) Strata Title Ownership Scheme passed, 2) Moratorium on Voluntary Carbon Market Projects, and 3) Electricity Regulatory Contract Review – commencement of the review process

Vietnam Weekly Update - 15 April 2022

Cập Nhật Hàng Tuần Việt Nam - 15 Thang 04 2022

In this week’s legal update: 1) Overtime hours in 01 year, in 01 month of employees in the context of COVID-19 epidemic prevention and control, socio-economic recovery and development; and 2) New guidance on VAT.

Vietnam Customs and Global Trade Update | March 2022

In this update: Proposed amendments on the Law on Export and Import Duty, Guidance on exchanging data from surveillance cameras between Export Processing Enterprise (EPE) and the customs authorities, Amending regulations on the special preferential export tariff and the special preferential import tariff to implement the CPTPP, Implementation under the Vietnam - UK Free Trade Agreement (UKVFTA), and others.

Debt Collection in Myanmar

COVID and the recent change in the government have added further concerns to the political state of Myanmar. We have seen foreign investors and suppliers face difficulty in recovering debts in Myanmar. This Alert sets out actions to consider towards recovering debts from a Myanmar company.