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EY Vietnam Tax Alert | Restore immigration policies before COVID-19

In this Tax Alert: 1) Retrievement of the immigration policies for foreign travelers same as before applying COVID-19 control measures, 2) Unfreezing visa bilateral and unilateral Vietnam visa exemption, and 3) No quarantine requirements for entry persons who are negative to COVID-19.

New Regulations on the Taxation of Non-Resident E-Commerce and Digital Platform Service Providers

Lao PDR is following the regional trend of taxing the activities of non-resident E-Commerce and digital platform service providers. This update provides the key features and our commentary on the Ministry of Finance’s Notification on the Implementation of the Tax Obligations of the E-Commerce and Digital Platform.

Thai PDPA Compliance: Key International Players and Global Platform Service Providers

After nearly two decades in the making, the Personal Data Protection Act was published on May 27, 2019. Ostensibly inspired by the EU General Data Protection Regulation, the PDPA was slated to go fully effective in June 2022 following a two-year delay due to COVID-19 outbreak.

Foreign Investment in Data Center Business in Vietnam

This alert lists the key licenses, permits, declarations generally needed by a foreign investor (alone or in JV) to set up and operate a data center in Vietnam.

Thailand’s Personal Data Protection Act (PDPA) – Data Protection Officer (DPO) in Short

In this Thailand infographic, we outline briefly the role of a Data Protection Officer (“DPO”) and why certain businesses may require to hire one.

Philippines Amends Public Service Act, Limits the Definition of “Public Utility” and Lifts Foreign Equity Restrictions on Various Industries

The Act amending the "Public Service Act” was signed into law on 21 March 2022, and encourages private enterprise and expands the base of investment in the country, with the goal of providing efficient, reliable, and affordable services to all.

Vietnam: Changes to the Law on Electricity

The new Law on amending and supplementing No. 03/2022/QH15 took effect on 1 March 2022. The New Law provides changes to nine current laws, which includes the Law on Electricity 28/2004/QH11, as amended from time to time.

Cambodia: VAT Registration Deadline for Non-Resident E-Commerce Providers is 31 March 2022

The 31st of March is the deadline for non-resident e-commerce providers to register for value-added tax (“VAT”) in Cambodia. This update discusses some important points that non-resident e-commerce providers should consider in determining whether the VAT registration deadline applies to them.

Cambodia: Incentives for Voluntary Disclosures

The introduction of Prakas 217 MEF.P (“Prakas 217”), which was issued by the Ministry of Economy and Finance in March 2022, provides incentives to taxpayers who wish to make voluntary declarations with the GDT.

Vietnam: Can a foreign company retain a Vietnamese person as a service provider, not an employee?

Vietnamese law has no clear-cut distinction between an employment relationship and a commercial relationship, service agreement, thus individuals can be service providers.

Vietnam Updates From ADK - Vol. 38: Contractor shall purchase compulsory insurance for civil liability for third parties

In this update: 1) Guideline on Covid-19 prevention and control associated with entrants, 2) Visa waiver for citizens of 13 countries, and 3) A contractor shall purchase compulsory insurance for civil liability for third parties.

Use of digital signatures in e-financial transactions

Digital signatures have become an essential part of the digitisation strategy of the banking sector in Vietnam. Even though the legality of digital signatures has been recognised by Vietnamese law, some risks and obstacles still undermine their use.

Vietnam Weekly Update - 25 March 2022

Cập Nhật Hàng Tuần Việt Nam - 25 Thang 03 2022

In this update: 1) Amending, supplementing several regulations on compulsory insurance in construction investment activities, 2) Visa waiver for the foreign nationals; and 3) Summary of articles published in March 2022.

Vietnam Weekly Update - 14 March 2022

Cập Nhật Hàng Tuần Việt Nam - 14 Thang 03 2022

In this update: 1) Administrative procedures re foreign exchange operations performed at the one-stop service counter of the State Bank of Vietnam, 2) Amending and supplementing the guidance of the Law on Insurance Business and regulations on compulsory insurance of civil liability of motor vehicle owners.

Vietnam: Amendments and supplements for approving foreign loans under Circular No. 09/2022/TT-BTC

In this update: 1) Several amendments and supplements to conditions for approving foreign loans under Circular No. 09/2022/TT-BTC, 2) New regulations on the registration fee under Circular No. 13/2022/TT-BTC.

Republic Act No.11595 Reduces Required Paid-up Capital for Foreign Retail Enterprises to 25M Philippine Pesos

On 10 December 2021, President Rodrigo Duterte signed into law Republic Act No. 11595 which introduced important amendments to the Retail Trade Liberalization Act of 2000.

Some developments relating to the draft Personal Data Protection Decree

On 7 March, the Government issued Resolution 27/NQ-CP as an ‘approval-in-principle’ of key contents of the draft PDPD proposed by the MPS.

Philippines: Republic Act No. 11595 Reduces the Required Paid-up Capital for Foreign Retail Enterprises to Twenty-five Million Philippine Pesos

On 10 December 2021, the Republic Act No. 11595 was passed, introducing important amendments to the Retail Trade Liberalization Act of 2000 (“RTLA”).

Philippines: Amendments to the Foreign Investment Act

On 02 March 2022, the President of the Philippines signed into amendments to the Foreign Investments Act. Among the notable amendments are: 1. The creation of an Inter-Agency Investment Promotion Coordination Committee (“IIPCC”), 2. The introduction of the Foreign Investment Promotion and Marketing Plan (“FIPMP”), and 3. Reserving micro and small domestic market enterprises to Philippine nationals.

Vietnam added to the EU’s “grey list"

On 24th February 2022, the Council of the European Union (“EU Council”) added another 10 countries, including Vietnam, to its grey list, - its list of The grey list of countries deemed by the EU to be co-operative and have committed to reforming their tax rules.