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.
On 10 December 2021, the Republic Act No. 11595 was passed, introducing important amendments to the Retail Trade Liberalization Act of 2000 (“RTLA”).
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.
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.
The General Department of Taxation issued Notification no. 4577 GDT on the 9th of March 2022 which delays the implementation of Prakas 346 on Capital Gains Tax to 1 January 2024.
In this update: 1) Draft Circular on electricity generation price brackets, determining electricity generation price, and power purchase agreement value, 2) Guideline on determining the HS code for receiving 2% VAT reduction, and the Ministry of Health issued the Circular stipulating the latest maximum payment rates for testing services.
To satisfy the actual demand of those working in industrial zones (IZs), recently, more and more investors are exploring possibility to do the accommodation service business (e.g. hotel, condotel, officetel, …) (Accommodation Business) within IZs.
In this legal update: 1) Guidance on investment supervision and assessment for foreign investment activities in Vietnam; 2) National program on occupational safety and health for the period of 2021 -2025.
On 14th December 2021, the Social Insurance Agreement (“the SIA”) between Vietnam and Korea was signed by the Minister of Labour, War Invalids and Social Affairs (Vietnam) and the Minister of Health and Welfare (Korea) on behalf of the Governments of the two countries
In this update: The Government has just issued Decree 17 on penalties for administrative violations in the field of chemicals, electricity, safety of hydroelectric dams, effective use of energy. commerce, production and trade in counterfeit and prohibited goods, and protection of consumer rights.
There have been some recent changes and updates with respect to the annual compliance obligations for most enterprises in Cambodia, including: Tax on income return, transfer pricing documentation, patent tax, annual certificate of compliance, annual declaration of commercial enterprise, submission of annual financial statements, foreign employee quota for 2023, foreign employee work permits for 2022, etc.
On 9 February, Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“the Convention” or “the MLI”), becoming the 99th jurisdiction to join the Convention.
In this legal update: 1) Entry procedures for foreigners, overseas Vietnamese and their relatives to return to Vietnam, 2) Precedent No. 52/2021/AL on the validity of contracts for a donation of land use rights without the registration of land use rights
In this legal update: 1) The implementation of several articles of the Law on Occupational Safety and Health regarding employee benefits re occupational accidents or diseases, 2) Amending the Law on Investment and the Law on Housing; and 3) Frequently asked legal questions on declaring inheritances.
On 30 January, the Government issued Resolution 11/NQ-CP on socio- economic recovery measures and implementation of Resolution 43/2022/QH15 on fiscal and monetary policies.
Digital signatures can be used by businesses to sign labour contracts with their employees. This update discusseses the legal validity of digital signatures with employees.
In this update: 1) National Assembly issues Law No. 03/2022/QH15 amending and supplementing a number of articles of the Law on Investment, the Law on Enterprises, 2) Eliminating the requirement to have a certificate of full dose of COVID-19 vaccine or a certificate of recovery or negative test on domestic flights
Vietnam’s startup darling Axie Infinity is in the news. Like the United States on the back of trillions of dollars of newly printed dollar bills, Axie Infinity is suffering from a classic economic problem: inflation.
The General Department of Taxation issued an Instruction which sets out obligations for taxpayers in Cambodia that carry out projects for public interest in connection with a grant or loan agreement or memorandum of understanding with the Government.
Important Vietnamese legal terms can be looked up, with the corresponding term in the other language presented (Vietnamese <-> English). Very helpful resource for those professionals working in both languages
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