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Vietnam: Significant Amendments Of Law On Tendering 2023

On 23 June 2023, the National Assembly adopted the new Law on Tendering effective from 1 January 2024. In an effort to foster a more competitive market, the Law on Tendering 2023 introduces significant amendments regarding the scope of application, methods, and procedures for selecting tenderers and investors. This post will summarize some notable changes in the Law on Tendering 2023.

Vietnam: How Agreements On ROFO, ROFR, Tag Along And Drag Along Could Work In A Multiple Member Limited Liability Company In Vietnam?

The table in this update sets out the potential inconsistencies between agreements on ROFO, ROFR, Tag Along and Drag Along and the transfer procedures under Article 52 of the Enterprise Law 2020.

Vietnam: Requirement For Pricing Information In The Application For An M&A Approval Could Cause Troubles To Investors

From February 2024, companies and foreign investors applying for a contribution of capital or purchase of share/capital contribution by the foreign investor must state the actual price of proposed transfer, instead of the estimated transfer price as previously. This is a critical change and discussed in this update.

Cambodia: Types of Trusts, Trust Registration, and Trust Licences Under The Cambodian Trust Law 2019

The Law on Trusts was promulgated in 2019 to manage trusts which are established in Cambodia. The trust law determines not only the rules and procedure for the establishment, registration, management and control of financial trusts, but also of all types of trusts established in Cambodia.

Vietnam: New National Action Plan in Relation to Virtual Assets and Virtual Asset Service Providers

Recently, the Prime Minister issued Decision No. 194/QD-TTg regarding the implementation of the national action plan to fulfil the commitments of the Government of Vietnam on anti-money laundering, counter-terrorism financing, and proliferation of weapons of mass destruction.

Vietnam's new Land Law offers project developers more certainty and new complexities

The new Land Law aims to improve efficiency of land management and use in Vietnam and introduces significant changes impacting both domestic and foreign investors using land in Vietnam. This Insight highlights some of the key changes, with a focus on issues of note for energy and infrastructure project development.

Vietnam: Some notable changes in the new Law on Land

Following the passing of the Law on Real Estate Business 2023 (please refer to our previous NewsBrief for updates on this law), the National Assembly also passed the Law on Land No. 31/2024/QH15 (“LOL 2024”), which will become effective on 1 January 2025 and replace the current one.

Vietnam: Top 10 Considerations for Mergers and Acquisitions in the Renewable Energy Sector in Vietnam

In this article, we share the top 10 considerations for M&A in the renewable energy sector in Vietnam, covering topics such as legal and regulatory framework, investment incentives, transaction structure, local partner, timing, debt, permits and approvals, due diligence, and more.

Vietnam: The Impact Of Precedent No. 69/2023/Al On Non-Compete Agreements In Labour Relations

On 01 October 2023, the Supreme People’s Court issued Decision No. 364/QD-CA to announce 07 new precedents, including Precedent No. 69/2023/AL on the jurisdiction of Commercial Arbitration in resolving confidentiality and non-compete agreement disputes.

Lao: Guidance on VAT Obligations for Digital Goods and Services, Digital Platforms, and E-commerce has been Published

On 14th February 2024, the Ministry of Finance released a new instruction dealing with the VAT obligations for foreign suppliers of digital goods and services, digital platforms, and e-commerce to users in Laos. The new rules will apply to transactions starting from 1st August 2024; with registration open on 1st March 2024.

Myanmar: MIC Trial Period Extension: Data Re-Entry & Foreign Expert Appointments

Vietnam: Implementation of IFRS - March 2024

On March 16th 2020, the Ministry of Finance signed Decision 345/QD-BTC approving " The project on application of financial reporting standards in Vietnam" with a number of contents related to the implementation of IFRS.

Vietnam Tax & Labour Compliance Calendar 2024

For businesses, we understand you need to stay ahead of important corporate taxes and other compliance dates or risk paying late fees. With the hope to help enterprises adhere to any important deadlines of 2024, we are delighted to offer this “Compliance Calendar 2024” in English and Vietnamese.

Mazars Vietnam Newsletter - March 2024

In this newsletter: 1) CIT incentives implications for pending projects, 2) VAT refunds for export contracts, 3) Invoices for export processing enterprises, 4) The handling of erroneously cancelled output invoices, 5) PIT obligations for gifts to employees, 6) PIT implications regarding welfare expense for employees, and more.

Vietnam: Technical Update On The New Land Law

In this article we examine the 7 important changes brought about by the new Land Law, including a commentary and our views as to the potential impact that this may have on the real estate market and sector.

Vietnam Progresses with Personal Data Protection Law

The Ministry of Public Security in Vietnam is spearheading the creation of a new Personal Data Protection Law to tackle crucial shortcomings in the country's data protection practices. Two new reports highlight the critical need for a comprehensive legal framework that enshrines the protection of personal data.

Vietnam: PIT treatment for compulsory insurances contributed overseas

On 29 December 2023, the GDT issued an official letter regarding payment of an expatriate in Vietnam under an intra-corporation transfer scheme, receiving income paid by both Vietnam and overseas entities and where the overseas income will be subsequently reimbursed by the Vietnam entity in full.

Malaysia: Companies (Amendment) Act 2024

The Companies (Amendment) Act 2024 was passed with the aim of enhancing the current provisions within the Companies Act 2016 relating to the corporate governance framework and corporate rescue mechanisms, and introduces new provisions addressing the disclosure of information on beneficial ownership.

Indonesia: New Presidential Regulation on Promoting Carbon Capture and Storage for Economic Growth and Acceleration of Net Zero Emission

Following several carbon regulations, the Government of Indonesia enacted new regulation for Carbon Capture and Storage activities by the issuance of Presidential Regulation No. 14 of 2024 concerning the Implementation of Carbon Capture and Storage Activities. This update discusses the key provisions.

Cambodia's New Article 6 Regulations - Opportunities in the Carbon Credit Market

On 14 December 2023, Cambodia enacted comprehensive regulations to implement Article 6 of the Paris climate action agreement within its borders. This client alert provides an overview of these regulations and their impact on project developers and credit buyers.