Updates
Vietnam’s Potential for Sustainable Development and Investment: Green & Blue Bonds
- DFDL Vietnam
This whitepaper navigates the Global Green Bond Market, exploring opportunities to close the gap, challenges, and solutions for a green bond market in Vietnam.
Malaysia: Updates to the Beneficial Ownership Reporting Framework
- DFDL Malaysia (Robyn Lynn & Lee)
As of 1 April 2024, the provisions concerning beneficial ownership reporting, as outlined in the amendments to the Companies Act 2016 through the Companies (Amendment) Act 2024*, have come into effect. The Companies Commission of Malaysia has launched the Electronic Beneficial Ownership System and updated the Guidelines for the Reporting Framework for Beneficial Ownership of Companies (“Revised Guidelines”).
Myanmar: Key Changes under the SAC’s 2024 Union Tax Law
- DFDL Myanmar
On 29 March 2024, the State Administration Council (“SAC”) enacted the Union Taxation Law 2024 (Law No. 23/2024 or “2024 UTL”), which clarifies the tax rates and procedures for income tax, commercial tax, specific goods tax, and gemstone tax in Myanmar. The law is effective on 1 April 2024 or the start of the financial year 2024-2025.
Cambodia: Prakas 089 on Real Estate Development Business Replaced by New Prakas No. 047
- DFDL Cambodia
To implement Sub-Decree No. 50 dated 2 March 2023 on the Management of Real Estate Development Business, the Non-Bank Financial Services Authority issued Prakas No. 047 on 26 September 2023. This Prakas outlines the rules and procedures for issuing real estate development business licenses/permits.
Myanmar: MIC Removed the Classification for 100% Export-Oriented Investments
- DFDL Myanmar
On 5 April 2024, the Myanmar Investment Commission (“MIC”) issued Notification 8/2024, which revokes a 2017 notification regarding the classification of investment businesses exporting 100% of their products from Myanmar. This revocation takes effect immediately upon the issuance of the notification.
DFDL Commentary on BEPS 2.0 – Inclusive Framework Report on Pillar One – Amount B
- DFDL Singapore
The OECD/G20 Inclusive Framework on BEPS agreed to the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy in October 2021. Read our summary and commentary on Pillar One – Amount B.
The New Land Law 2024 – Notable Amendments To Legal Regulations On Industrial Zone Land In Vietnam
- Venture North Law Firm
In this post, we highlight some key changes to regulations on industrial zone land under the new Land Law 2024.
Vietnam: Authorisation In Opening And Using Bank Account Of Representative Office
- Venture North Law Firm
While it is common in practice for the Chief Representative of a Representative Office (RO) to act on behalf of the RO in opening and using the RO's bank account, there are instances where the parent company may wish to authorize another person (Authorized Person) to handle these matters.
Vietnam: Sale And Sub-Lease Of Annual Rental “Lease Rights” Under The Land Law 2024 In Vietnam
- Venture North Law Firm
The Land Law 2024 introduces major amendments to the land use regime in Vietnam. One amendment is the ability of a land user who leases land from the Government with annual rental payments can now sub-lease or, subject to certain conditions, sell the land (via a sub-lease or sale of the lease rights) together with the assets attached to such land to another person.
Vietnam: Mechanism for Calculation of Electricity Generation Price Bracket for Post-FiT Solar/Wind Power Plants
- Venture North Law Firm
After the expiration of the preferential Feed-in Tariff (FiT) policy for solar and wind power projects in Vietnam, the energy selling price of solar and wind power plants in Vietnam will now be up to the parties’ negotiation in a power purchase agreement (PPA) but must be within the electricity generation price (EGP) bracket approved by the competent authorities.
Vietnam: The extensive use of PPP in Ho Chi Minh City infrastructure development!
- LNT & Partners
Ho Chi Minh City (HCMC), Vietnam's economic powerhouse, is charting a new course for infrastructural development through the extensive use of Public-Private Partnerships (PPPs). A recently approved landmark list of 41 projects underscores the city's ambition to leverage private sector expertise and funding for vital public works.
Vietnam: Is it difficult to enforce a civil judgment in Vietnam?
- Apolat Legal
After the Court issues a judgment or decision to resolve a case, the next step that the winning party is interested in is how the legally effective judgment will be enforced. This article examines the specific steps a judgment creditor needs to know from when requesting judgment enforcement until the judgment enforcement is completed according to Vietnam’s civil procedural law.
Vietnam: Protecting computer software under patent law: Is it easy?
- Apolat Legal
Many Vietnamese businesses are still wrestling with the question of whether to protect computer programs’ intellectual property rights (IP) as copyright or patent. This decision could lead to completely different ways of commercializing, enforcing and protecting intellectual property rights associated with computer programs.
New guidelines on protection for AI-assisted patent in US
- Apolat Legal
Determining the authorship of inventions (inventors) created with AI assistance has been a contentious issue in recent years. However, light is gradually emerging, though it is clear that this is not yet the end of the tunnel. In the case of Thaler v. Vidal, 43 F.4th 1207 (Fed. Cir. 2022), the Federal Circuit upheld the decisions made by the USPTO to reject two petitions seeking to designate an AI system as an inventor.
Mazars Vietnam Newsletter - April 2024
- Mazars Vietnam
On March 29, 2024, Vietnam Social Insurance issued Official Letter No. 862/BHXH-TST guiding certain the implementation the Social Insurance (SI) Agreement between Vietnam and South Korea.
Vietnam: Implementation Plan of the National Power Development Master Plan for the 2021-2030 Period
- ADK Lawyers
In this update: 1) Enhanced Investment Incentives and Support in High-Tech Parks, 2) Implementation Plan of the National Power Development Master Plan for the 2021-2030 Period
Vietnam: Some issues related to the training, improvement, and skill enhancement of employees under the labour code
- Apolat Legal
The training, improvement, and enhancement of skills for employees has become more necessary than ever. Training and development for employees is among the important provisions recognized in the Labor Code 2019. In this article, the author will present some relevant content regarding vocational training for employees according to the current legal regulations.
Vietnam's Fintech Sandbox Mechanism Updated Draft Decree
- RHTLaw Vietnam
The Government of Vietnam has recently published an updated draft of the Decree on Fintech Sandbox Mechanism in the banking sector proposing several amendments to the previous draft published on 1 April 2022.
Malaysia: Proposed Amendments to the Income Tax Act 1967 and Labuan Business Activity Tax Act 1990
- DFDL Malaysia (Robyn Lynn & Lee)
On 26 March 2024, the Income Tax (Amendment) Bill 2024 and Labuan Business Activity Tax (Amendment) Bill 2024 were passed. Both Bills introduce amendments in relation to e-invoicing, with the Income Tax (Amendment) Bill 2024 proposing additional amendments on capital gains tax and tax payable. This legal alert sets out the key amendments introduced by the Bills.
Thailand: Virtual Banking in Thai Financial Services
- DFDL Thailand
On March 4, 2024, the Minister of Ministry of Finance (“MOF”) issued a new regulation through the Notification of Ministry of Finance re: Criteria, Methods and Conditions for Application For and Issuance of Virtual Bank License (“Virtual Banking Notification”), which came into effect on March 20, 2024.
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