Reading Time: 2 minutesADVISORY OPINIONS The National Privacy Commission (“NPC”) issued NPC Circular No. 18-01 dated 10 September 2018 which provides the rules of procedure on requests for advisory opinions on matters relating to data privacy or data protection. The Circular mandates that requests for advisory opinions be commenced by a letter request addressed to the Privacy Commissioner and Chairman. […]
Myanmar Legal Update: Does the New Myanmar Amended Companies Act Affect You? Are You Compliant?
Reading Time: 1 minutesAugust 1st, marked the launch of the Directorate of Investment and Company Administration’s (“DICA”) online registry system, Myanmar Companies Online (“MyCO”). Through this release, Myanmar has made a notable stride forward in its efforts to attract greater levels of foreign participation and investment. The corporate compliance process is now significantly more streamlined and efficient under […]
Myanmar Legal Alert: Foreign Banking Branches in Myanmar Now Permitted to Provide Financing to Local Companies
Reading Time: 3 minutesThe Central Bank of Myanmar recently issued a directive which goes considerable distance in further liberalizing and encouraging market access to local companies. The directive will foster increased competition in the market and addresses the persistent grievances of local companies in terms of their access (or the lack thereof) to channels and sources of foreign […]
Regional Updates: Myanmar Tax Updates for November 2018
Reading Time: 5 minutesWe provide below an update on some of the recent changes in the tax landscape in Myanmar. 1. Clarification on the offsetting mechanism for commercial tax (“CT”) purposes The Internal Revenue Department (“IRD”) recently issued two Notices clarifying the treatment of recording CT upon the sale and purchase of goods and services. Notice No. 2/2018 […]
Thailand Tax Update: New Tax Incentives for Angel Investors
Reading Time: 2 minutesAt the end of January 2018, the Thai government approved a Ministerial Regulation providing a tax incentive (“Tax Incentive”) to any Angel Investor investing in a start-up company that conducts a promoted business activity in an industry approved by the National Science and Technology Development Agency (“NSTDA”). More specifically, the Tax Incentive is granted to […]
Vietnam Legal Update: Changes To Wind and Solar Power Feed-in-Tariff Deadlines
Reading Time: 2 minutesOn 10 September 2018, the Prime Minister issued Decision No. 39/2018/QD-TTg (“Decision 39”), amending Decision No. 37/2011/QD-TTg of the Prime Minister dated 29 June 2011 on mechanisms to support the development of wind power projects in Vietnam. Under Decision 39, the wind FIT (excluding VAT) will be VND 1,928 per kWh (equivalent to US cents […]
Cambodia Legal Alert: Provision of Seniority Payments & Wage Payments
Reading Time: 5 minutesPROVISION OF SENIORITY PAYMENTS, Prakas 443 of the Ministry of Labour and Vocational Training (“MLVT”) dated 21 September 2018. After the amendments to the Labour Law (including the introduction of seniority payments), which came into effect on 26 June 2018 (as discussed here) the MLVT issued Prakas 443 on Seniority Payments (“Prakas 443”) on 21 September […]
ASEAN Employment Legal Update 2018 Q.3
Reading Time: 10 minutesThis legal update is to advise you on important legislative developments and employment issues in the region. Cambodia EMPLOYMENT SECTOR Law on Amendments of Article 87(C), Articles 89, 90, 91, 94, 110,120 and 122 of the Cambodian Labor Law dated 13 March 1997, dated 26 June 2018 (“Amendment Law”) The Amendment Law has introduced significant […]
Myanmar Legal Alert: Own a Condo in Myanmar
Reading Time: 4 minutesOn 14 September 2018, the Ministry of Construction (“MOC”) issued Notification 227/2018 (the “Notification”) “Appointing Registrar and Opening Registration Office relating to Condominiums” as part of the implementation of the Condominium Law 2016 (“Condo Law”) and Condominium Rules Notification 267/2017 (“Condo Rules”). This welcome development establishes the long awaited condominium registration offices allowing developers to […]
Cambodia Tax Update: SME Tax Incentives Announced
Reading Time: 2 minutesSub-Decree No. 124 R.N.Cr.BK (“SD 124”) that came into effect on the 2nd of October 2018 has introduced important tax incentives for qualifying Small and Medium Enterprises (“SME’s”) operating in defined priority sectors in Cambodia. We have summarized the key points addressed by SD 124 below: SD 124 applies to Small and Medium Enterprises which […]
Myanmar Tax Pocket Guide 2018
Reading Time: 2 minutesDFDL Myanmar is pleased to announce the publication of the 2018 edition of the Myanmar Tax Pocket Guide. Written by DFDL’s tax experts, this comprehensive guide offers a clear and detailed insight on taxation laws and practices in Myanmar. While tax law can be notoriously difficult to decipher in emerging markets, DFDL offers a simplified […]
Thailand Tax Alert: The Thai Government Announces New International Business Center Incentives and the Cancellation of the IHQ Program
Reading Time: 2 minutesOn 10 October 2018, the Thai government announced the cessation of the International Headquarters (“IHQs”) program (which also included Regional Operating Headquarters or “ROHs” and International Trading Centers or “ITCs”) and the creation of a replacement initiative; International Business Centers (“IBCs”). The move is part the OECD Inclusive Framework for Base Erosion and Profit Shifting (“BEPS“). […]