In this issue we present Cambodian regulations and information touching on the following:

• The maintenance of reserve requirement against commercial banks’ deposits and borrowings
• Management of importation of non-processed diamonds and exportation of processed diamonds in the implementation of the Kimberley Process Certification Scheme 
• Creation of commission for preparing mechanism of health service payment
• Paid holidays for the year 2013 by the Ministry of Labor and Vocational Training
• Promulgation of the Law on Approval on the Agreement between the State of Qatar and the Government of the Kingdom of Cambodia concerning the Regulation of Manpower Employment in the State of Qatar

Tags: November 2012, Cambodia, Legal & Regulatory updates Read More

Pursuant to Sub- Decree № 146 dated 27 December 2005 (“SD 146”), many Economic Land Concessions (“ELCs”) have been granted to investors in the agro-industrial sector.

Tags: November 2012, Cambodia, Legal pointer Read More

In this issue we present Cambodian regulations and information touching on the following:

• Organization and Functioning of the Secretariat of Telecommunication Regulator of Cambodia (TRC)
• Adjustment to the Commission for Dealing with strikes and demonstrations
• Creation of a Steering Committee for Reviewing the Implementation of the United Nations Convention Against Corruption (UNCAC) in Cambodia
• Amendment to the Sub-Decree № 160 ANKr.BK, dated 23 September 2009, on the Increasing Work Effectiveness of the Disciplinary Council of the Supreme Council of Magistracy

Tags: October 2012, Cambodia, Legal & Regulatory updates Read More

All property owners must file a tax return and pay the Property Tax before 30 September 2012. Failure to register property and pay the property tax may trigger the penalties according to the tax laws. Whilst there is no indication as to how a company will be penalized if it fails to pay property tax or is late in making this payment we can expect penalties in the range of 10 to 40% of the under-declared amount.

Tags: september 2012, Tax Pointer, Cambodia Read More

In this issue we present Cambodian regulations and information touching on the following:

• Creation of monetary policy commission
• Creation of international reserve capital investment commission
• Establishment of Department of Legislation of the Ministry of Health
• Establishment of Department of Land Information Technology of the Ministry of Land Management, Urban Planning and Construction
• Creation of Inter-Ministerial Commission for Constructing Morodok Techor National Stadium in consideration for Poung Peay Lake Land
• Determination of land area of northern Poung Peay lake and southern Poung Peay lake located in Sangkat Phnom Penh Thmey, Sangkat Khmuonh in Khan Sen Sok and Sangkat Tuol Sangkae in Khan Russeykeo in Phnom Penh as a state public property

Tags: Legal & Regulatory updates, september 2012, Cambodia Read More

The Civil Code of Cambodia, which became effective in December 2011, provides significant latitude to the parties to a contract to negotiate the terms and conditions associated with termination of such a contract.  In particular, Article 414 of the Civil Code allows the parties to agree on termination rights, as well as the methods and effects of termination.  One of the effects of termination, available to the parties, is compensation in the form of liquidated damages.

Tags: Legal pointer, september 2012, Cambodia Read More

Tax authorities worldwide and in Cambodia are under ever increasing pressure to collect revenue, causing an increase in tax audit activity across all jurisdictions and all types of tax. Uncertainty can arise as global businesses seek to access emerging and developing markets where the local tax environment may be unfamiliar, subject to different interpretations and extremely unpredictable.

Tags: Tax Pointer, september 2012, Cambodia Read More

In this issue we present Cambodian regulations and information touching on the following:

• Customs procedure on De Minimis (goods with low price)
• Creation of National Single Window Technical Advisory Group
• Creation  of commission for monitoring/controlling the implementation of old policy with new activity in the land sector
• Instructional documents for consultative meeting between the Royal Government of Cambodia and NGOs
• Transfer of land site of Koh Tbal island (Tbal island) of state public property to state private property for investment and development of tourism zone

Tags: Legal & Regulatory updates, August 2012, Cambodia Read More

In this issue we present Cambodian regulations and information touching on the following:

• Adjustment to rate of customs-duty on certain imported merchandise

• Creation of National Single Window Project Team

• Procedure and formalities for requesting authorization to import metrological tools and metrological standards

• Creation of Committee for Land Management and Urban Planning of the Capital, Provinces-Municipalities, Districts-Khans Levels

• General process for delegating functions and resources to the Sub-national Administration

Tags: Cambodia, June 2012, Legal & Regulatory updates Read More

In this issue we present Cambodian regulations and information touching on the following:

• Adjustment to rate of the specific tax and rate of export tax on certain merchandise

• Putting into use the updated joint procedure for implementing cooperation financing project from the development partner

• Notification on importing metrological standard tools and metrological tools

• Management of businesses/services for showing and playing movies and videos

• Promulgation of the Law on State General Budget Settlement for the 2010 Financial Management

• Creation of Committee of Land Management, Urban Planning and Construction for National Level

Tags: Cambodia, Legal & Regulatory updates, June 2012 Read More