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 […]
Vietnam Legal Updates: Bankruptcy Settlement Procedures
Reading Time: 3 minutesThe Ministry of Justice, the Supreme People’s Procuracy and the Supreme People’s Court issued Joint Circular No. 07/2018/TTLT-BTP-VKSNDTC-TANDTC dated 12 June 2018, on cooperation in enforcement of court’s decisions on bankruptcy settlements (“Joint Circular 07”), which came into effect on 1 August 2018. Joint Circular 07 sets forth new guidelines on cooperation in the procedures […]
Myanmar Tax Alert: Myanmar Passes The 2018-2019 Union Tax Law
Reading Time: 4 minutesOn 25 September 2018, the Union Parliament (“Pyidaungsu Hluttaw”) enacted the 2018-2019 Union Tax Law (“2018-2019 UTL”) which provides clarity on the transition period regarding the change in the tax year of reporting along with tax rates and exemptions applicable to certain goods and services in Myanmar. For State-owned enterprises (“SOEs”), the 2018-2019 UTL is effective […]
Cambodia Tax Update: Transfer Pricing – Interest Rates for Related Parties
Reading Time: 4 minutesInstruction 11946 issued by the General Department of Taxation (“GDT”) on the 21st of August 2018 (“Instruction 11946”) provides an important clarification regarding the determination of interest rates between related parties. Since the introduction of Circular 151 in early 2014 Cambodian taxpayers were historically able to receive and extend interest free loans to domestic as […]
Data Privacy: Obligations under the GDPR and ensuring compliance (Part 2 of 2)
Reading Time: 9 minutesWhat are the obligations under the GPDR? A company is required to comply with several conditions in order to lawfully process personal data pursuant to the GDPR provisions. The processing should be lawful and transparent, for a specified purpose, limited to the relevant data necessary in relation to this purpose, and appropriately secured. At a […]
Data Privacy: What is the GDPR and who does it apply to? (Part 1 of 2)
Reading Time: 5 minutesIntroduction Less than 20 years ago, three quarters of all stored information was in non-digital form: names were itemized on municipal registers, identification numbers were held in national healthcare systems, and passport numbers were recorded on immigration forms. Today, more than 98% of the world’s stored information is in digitized form: our collective ‘data’ now […]