Brexit – What’s all the fuss about?

Reading Time: 4 minutesAn assessment of the implication of Brexit for Singapore businesses. You may be thinking that Brexit is no real concern of yours. You’re not based in the UK, or in any other EU state for that matter, so there’s no need to spend any more time thinking about it, right? Wrong. Astute businesses in Singapore […]

Cambodia Tax Update: VAT Update – Zero-rated Supplies

Reading Time: 3 minutesAs a general rule the Cambodia tax regulations contemplate Value Added Tax (VAT) being charged at zero percent (“zero-rated”) for services invoiced by a Cambodian taxpayer that are deemed to be performed outside of Cambodia (“exported services”). The uncertainty facing taxpayers in Cambodia centers upon what constitutes an exported service and what evidence do they […]

What marketers and business owners should know about the Thailand’s Personal Data Protection Act (PDPA)?

Reading Time: 5 minutesThailand has adopted the principals of the EU General Data Protection Regulation (“GDPR”). The Personal Data Protection Act (“PDPA”) legislation was approved and published in the Royal Gazette on May 27, 2019. A one-year grace period has been given, while the committee and office are being formed, so there is only a short time to […]

Myanmar Legal Update: Foreign Companies Allowed to Export Certain Local Products

Reading Time: 2 minutesOn 6 June 2019, the Ministry of Commerce (“MOC”) issued Notification No.24/2019 (the “Notification”) that allows foreign companies to export certain local products by exercising powers under Section 13 (b) of the Export and Import Law. In order to raise the quality of Myanmar exports, boost international demand for local goods and raise earnings for […]

Myanmar Legal Update: INGOs & NGOs Conducting MFI Activities Must Be Registered as Companies and Re-Apply for Microfinance Business License

Reading Time: 2 minutesOn 4 June 2019, the Financial Regulatory Department (“FRD”) issued a letter (“Letter”) directing International Non-Governmental Organizations (“INGOs”) and Non-Governmental Organizations (“NGOs”) which carry out microfinance activities to register as companies and re-apply for Microfinance Business Operation Licenses (“MFBOL”). The FRD had previously issued MFBOLs to 3 INGO groups, 16 NGO groups, 47 foreign companies, […]

Myanmar Legal Update: New Set of Interest Rates for Microfinance Institutions

Reading Time: 2 minutesAmong recent developments happening in the banking and finance sector, the Microfinance Business Supervisory Committee (“MBSC”) issued Directive 1/2019 (the “Directive”). This Directive lays down a new set of interest rates which shall be followed by all microfinance institutions operating in Myanmar. Under the new Directive, the interest rate for microfinance loans shall be charged […]

HONG KONG: The Competition Tribunal handed down a judgment on market sharing and price fixing for the first time

Reading Time: 6 minutesIntroduction On 17 May 2019, the Competition Tribunal (the “Tribunal”) handed down two decisions for the enforcements actions initiated by the Competition Commission (the “Commission”), comprising Competition Commission v Nutanix Hong Kong Limited and Others [2019] HKCT 2 and Competition Commission v W. Hing Construction Company Limited and Others [2019] HKCT 3. Both cases involved breach of the first […]

HONG KONG: CFA clarifies the proper approach for interpreting “Red Flag” Reports

Reading Time: 5 minutesIntroduction In Moody’s Investors Service Hong Kong Ltd v Securities and Futures Commission (SFC) [2018] HKCFA 42, the Court of Final Appeal (“CFA”) dismissed an appeal brought by Moody’s Investors Service Hong Kong Ltd (“Moody’s”) in relation to SFC’s disciplinary action concerning a report entitled “Red Flags for Emerging-Market Companies: A Focus on China” (the “Report”).  We […]

Vietnam Legal Update: Draft Public-Private Partnership Law

Reading Time: 3 minutesRecently, the Ministry of Planning and Investment of Vietnam published a draft of Law on Public-Private Partnership (the “Draft PPP Law”). The Draft PPP Law is expected to be submitted to the Government during the 8th Session of Legislature XIV for consideration, with potential passage during the 9th Session of Legislature XIV. The current public-private […]

Myanmar Tax Update: Annual Tax Compliance Reminder for FY 2018-2019

Reading Time: 2 minutesOur Tax Team wishes to remind you of the fast-approaching deadline for submission of your annual Corporate Income Tax (“CIT”) return, annual Commercial Tax (“CT”) return, and annual Personal Income Tax (“PIT”) Salary Statement. For Myanmar taxpayers who follow the financial year ending 31 March 2019 (“FY 18-19”), all annual tax returns must be submitted […]

Insider Guide to Legal in Singapore: Roundtable #3

Reading Time: 2 minutesAsia Law Network together with the Law Society of Singapore, the Singapore Corporate Counsel Association and our Australian Counterparts, AlphaCreates and ASEAN Legal Tech Association, co-hosted the 2-day event which saw lawyers from Singapore and within the region visiting some of Singapore‘s  companies and law firms to exchange ideas, share progress and fostered relationships between countries. The third roundtable […]