As the Novel Coronavirus (COVID-19) pandemic continues to spread across the globe, DFDL has created a firm-wide COVID-19 Legal and Tax Resource Hub where our dedicated experts from across all of our Southeast Asian jurisdictions and regional practices provide clients with relevant and important updates to help them address and mitigate the impacts that the COVID-19 pandemic is having on their businesses.
As the Novel Coronavirus (COVID-19) continues to spread across the world, we would like to reassure you that DFDL takes the needs and well-being of our clients, our people and local communities seriously.
We are now pleased to unveil the third in our Q&A series on Finance and Loan Security Rights in Real Estate in the COVID-19 Era, this edition focusing on Vietnam. The State Bank of Vietnam (SBV) issued a Circular on 13 March 2020 regulating restructuring by credit institutions and foreign bank branches of debt repayment...Read more »
Hot on the heels of our other two series which dealt with aviation and restructuring & insolvency, DFDL is proud to unveil the next Q&A series, this time on Real Estate and Banking & Finance issues throughout Southeast and South Asia. This second edition will focus on the Philippines. This Q&A edition takes into account...Read more »
On 25 September 2020, the Government of Vietnam issued Decree 114/2020/ND-CP (“Decree 114”) that provides guidance on the implementation of a 30% reduction of Corporate Income Tax (“CIT”). Decree 114 took effect on 3rd August 2020 and applies to the tax year 2020. Some of the key points of Decree 114 include: A 30% reduction of...Read more »
Hot on the heels of our other two series which dealt with aviation and restructuring & insolvency, DFDL is proud to unveil the next Q&A series, this time on Real Estate and Banking & Finance issues throughout Southeast and South Asia. The first edition will focus on Myanmar. This Q&A edition takes into consideration the...Read more »
On 30 September 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 6’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. These represent a combination of new and existing measures (that have been extended). In addition to providing relief to businesses and...Read more »
On 12 September 2020, the Department of Trade and Industry (“DTI”) and the Department of Labor and Employment (“DOLE”) issued Advisory No. 20-02, Series of 2020 (“Advisory No. 20-02”), which contained clarifications related to the DTI-DOLE Joint Memorandum Circular No. 2020-04-A. The latter was issued to provide supplemental guidelines on the prevention and control of...Read more »
The Anti-Red Tape Authority (“ARTA”) ARTA is a government agency created under Republic Act No. 11032 (“RA No. 11032”), otherwise known as the “Ease of Doing Business and Efficient Government Service Delivery Act of 2018”. ARTA is tasked to implement policies, processes, and procedures in order to obtain the objectives of RA No. 11032, among...Read more »
This publication is part of our series focusing on the Corporate Insolvency Regime in consideration of the COVID-19 outbreak in Southeast Asian countries. DFDL published both the first (link here) and second (link here) editions in a series of tailor-made FAQs on restructuring and insolvency matters that businesses and stakeholders need to keep track of...Read more »
On 28 August 2020, the Governor issued a formal announcement that the owners of land and buildings that are subject to Thailand’s updated property tax rules will be granted an additional two month extension to the 31st October for payment of the land and buildings tax. This joint initiative is between the Ministry of Finance...Read more »
On 1 June 2020, the Ministry of Labor and Social Welfare (“MLSW”) issued Notification 1559/MLSW (“Notice”) addressed to the provincial and Vientiane Capital Labor and Social Welfare Divisions as well as production and service businesses nationwide. The Notice affirms the MLSW’s position that any changes to an employee’s remuneration package or leave entitlements, which by...Read more »