Myanmar Tax Alert: Recent Updates on Myanmar Commercial Tax Rules
Myanmar,Regional Law

Reading Time: 2 minutesOver the past few months, the Myanmar Internal Revenue Department (“IRD”) has issued several Interpretation Statements and a Notice Statement clarifying certain provisions of the Commercial Tax (“CT”) Laws. These Interpretation Statements address a number of common issues encountered by taxpayers and to provide clearer guidance with respect to the CT treatment of service charges, […]

Myanmar Legal Update: CBM Allows 35% Foreign Equity Investment in Local Private Banks
Business,Business Advice,Myanmar,Regional Law

Reading Time: 2 minutesIn a recent order of the Central Bank of Myanmar (“CBM”), it was announced that foreign banks and financial institutions would be allowed to have 35% equity investment in local private banks. As a corollary, local banks having a foreign equity injection up to the above mentioned limit would now be allowed to operate in […]

Hong Kong Regional Update: A second chance – principles governing the reversal of a guilty plea
Hong Kong,Regional Law

Reading Time: 4 minutesIntroduction In some rare scenarios where a defendant is legally represented but is not properly advised by his legal representatives before making a guilty plea (or a defendant is unrepresented), the defendant may find himself in need of making an application to reverse his plea on the ground that when the guilty plea was made, […]

Cambodia Tax Alert: Tax Incentives for Listing Entities
Business,Cambodia,Regional Law,Taxation

Reading Time: 1 minutesSub-Decree 01 ANKr.BK dated 4 January 2019 (“Sub-Decree”) has introduced a new package of tax incentives for those entities in Cambodia looking to list on the Cambodian Stock Exchange (CSX). The 2019 tax incentives provided to listing entities on the CSX are much more comprehensive and concessional then those that were initially offered in 2011, […]

Myanmar Legal Alert: RFP and EOIs for Foreign Insurance issued by FRD
Business,Myanmar,Regional Law

Reading Time: 3 minutesIn early January the Ministry of Planning and Finance (“MOPF”) issued Announcement 1/2019 through which foreign companies were permitted “to operate the business of insurance, underwriting agency or insurance broking with foreign investment” in Myanmar. Further to this announcement, the Financial Regulatory Department (“FRD”) has now published an Request for Proposal (“RFP”) for 100% foreign […]

Hong Kong Maritime Series: Will shipowners be protected by letters of indemnity for delivering cargoes to unnamed receivers?
Business,Hong Kong,Maritime,Regional Law

Reading Time: 6 minutesBackground It is not uncommon for charterers or shipowners to be offered a letter of indemnity (“LOI”) for delivery of cargo to a named receiver without the presentation of original bills of lading. This situation arises when the bills of lading cannot be produced or released at the load port before the cargo arrives at […]

Hong Kong Case Study: Applications of non-primary care parents to relocate abroad with their children
Divorce and Child Custody,Hong Kong,Legal Updates,Personal,Regional Law

Reading Time: 3 minutesIntroduction There is a common perception that the application to remove a child permanently overseas is less likely to be successful if the non-primary care parent is the applicant. Indeed, the Court tends to maintain the current living arrangement of a child in order to avoid significant disruptions in his life. As such, the Court […]

Cambodia Tax Update: Important – Taxation of Individuals
Cambodia,Regional Law

Reading Time: 4 minutesWhilst a lot of discussion has been in made in recent times regarding the impact of the proposed seniority payments a much more significant and far-reaching area of tax reform is expected to be ushered into effect with the anticipated  promulgation into law this month of the 2019 Law on Financial Management (2019LFM). Compared to […]

Hong Kong Regional Update: When would using a computer be a crime? CFI decision narrowed the scope of application of the offence of accessing a computer with dishonest intent
Business,Cybersecurity,Hong Kong,Regional Law

Reading Time: 4 minutesIntroduction The offence of “access to a computer with dishonest or criminal intent” under section 161 of Crimes Ordinance (Cap. 200) (the “Offence”) has been widely used by the prosecution for cases including taking upskirt photos, hacking, cyber frauds and leaving provocative comments on the internet. In a recent ruling of the Court of First […]

Thailand Tax Alert: New Law on Transfer Pricing
Legal Updates,Regional Law,Thailand

Reading Time: 2 minutesOn 22 November 2018, the Thai Revenue Department (TRD) took another significant step towards tightening its transfer pricing compliance and enforcement regime with the release of “the Additional Revision of the Thai Revenue Code No.47 (TRC47)”. Over the past five years, based on the Base Erosion and Profit Shifting (“BEPS”) initiatives of the OECD, many jurisdictions […]

Myanmar Legal Alert: The Myanmar Companies Law, Changes Related Party Transaction Landscape
Legal Everyday,Myanmar,Regional Law

Reading Time: 5 minutesThe Myanmar Companies Law (“MCL”), with a view to promote corporate governance and transparency has defined related parties and come up with compliance requirements for related party transactions which is one of the distinct features of the new law. The changes which have been introduced to the MCL affects the general financing between related parties […]

Myanmar Legal Alert: Yangon Expressway, Land and Revenue Rights
Legal Updates,Myanmar,Regional Law

Reading Time: 3 minutesOn 7 September 2018, the Ministry of Construction of the Union Government of Myanmar (“MOC”) officially opened the Request for Qualifications (“RFQ”) phase of the USD 400 Million Yangon Elevated Expressway Project (“the Project”). The Project is set to be one of the largest infrastructure projects ever undertaken in Myanmar and will take the form […]