Reading Time: 5 minutesThe Amended Law on Value Added Tax Law (No. 48/NA, dated 20 June 2018) (“Amended Law on VAT”) was posted on the Lao Official Gazette on 4 December 2018 and is effective from 18 December 2018. We summarize in this client alert the key important points to note from the Amended Law on VAT. 1. […]
Thailand Tax Alert: Thai Government Announces New International Business Center (“IBC”) Tax Incentive
Reading Time: 3 minutesOn 28 December 2018, the Thai Revenue Department (“TRD”) announced a new program of tax incentives through the issuing of Royal Decree No.674 (“RD 674”). Key points of RD 674 Section 3: Definition of IBCs Section 4, 5 and 6: PIT at 15% for foreign nationals working for IBCs and their required qualifications Section 7: […]
Cambodia Tax Alert: Double Tax Agreement Update
Reading Time: 4 minutesThe Cambodia General Department of Taxation (GDT) has formally announced that the Double Tax Agreements (DTAs) which the Kingdom of Cambodia signed with Brunei Darussalam, The People’s Republic of China and the Socialist Republic of Vietnam officially come into effect on 1 January 2019for Cambodian tax residents. These developments represent major milestones in Cambodia’s ongoing tax […]
Lao PDR Legal Alert: Business Competition Authority Established
Reading Time: 2 minutesThe Law on Business Competition (№ 60/NA, 14 July 2015) (“Competition Law”) was passed on 14 July 2015 and came into effect on 9 December 2015. In October 2018 an additional regulation was passed formalizing the establishment of the regulatory authority (the “Competition Authority”). With the establishment of the Competition Authority we expect to see […]
Regional Update: Thailand’s 2019 Power Development Plan: What to Expect
Reading Time: 4 minutesDFDL Thailand, Bangkok | Expected in early January, Thailand’s forthcoming amended Power Development Plan (PDP) will set the course for nationwide power system development and operation over the coming years. The amended document will represent the first major update to Thailand’s PDP since 2015’s version, which in turn came three years after its predecessor. Each version […]
Cambodia Legal Alert: Cambodia’s Latest Draft Competition Law
Reading Time: 5 minutesEarlier this year, Cambodia issued an English version of its Competition Law entitled Version 5.7 stated to be “based on the Draft Khmer Version as of 13 FEB 2018” (“Law”). Below we describe some of the key features of the Law. We have been informed that this is a final version and that it is […]
Thailand Legal Alert: Summary of Changes to LPA
Reading Time: 3 minutesThe National Legislative Assembly approved a resolution for the new draft Labor Protection Act (Amendment) on 14 December 2018. The amendment to the LPA is expected to be published soon and will come into effect within 30 days from the publication date in the Royal Gazette. The law is expected to take effect in March […]
Cambodia Tax Update: Important – Taxation of Individuals
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 […]
Vietnam Legal Update: New Competition Law Will be Effective Soon
Reading Time: 6 minutesOn July 1, 2019, the new Law on Competition (“2018 Law”) will take effect and it has some significant differences from the existing Law on Competition (“2014 Law”). While certain details are yet to be determined, below we will outline some of the significant differences that businesses should note between the two laws. In addition, […]
ASEAN Employment Legal Update 2018 Q.4
Reading Time: 11 minutesDFDL’s Employment Practice Group is dedicated to advising clients on employment and labor issues and preparing human resources documentation that is compliant with local laws. Our employment team’s in-depth knowledge of the law and practices in the countries where we operate allows us to provide specialized, tailored, and practical advice on issues that arise in […]
Thailand Tax Alert: New Law on Transfer Pricing
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
Reading Time: 6 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 […]