Tax Updates During the COVID-19 Crisis

On 17 June 2020, the Ministry of Planning, Finance, and Industry (“MOPFI”) issued Notification No. 65/2020 (“Notification 65”) which outlines additional forms of tax relief that can be availed by businesses affected by the COVID-19 pandemic in Myanmar. This Notification is issued in line with the fiscal stimulus provided under Myanmar’s COVID-19 Economic Relief Plan...

On 26 May 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out round 4 of measures aimed at mitigating the impact of COVID-19 on the businesses and workers in Cambodia. These latest measures consist of a combination of new measures and extension of those measures already in place. In addition...

Earlier this month, the DFDL Myanmar Tax Team organized a well-attended webinar ‘How to Manage Your Tax affairs in Myanmar During the COVID-19 Crisis’. Jack Sheehan (Partner & Head of the Regional Tax Practice), Diberjohn Balinas (Senior Tax Manager) and Nay Nay Eaint (Tax Manager) shared their insights on how to deal with important tax-related...

The Ministry of Finance has issued an additional Notification (No. 1061/MOF, dated 22 April 2020) providing taxpayers with an exemption from penalties for late filings and payments of taxes as follows: Exemptions from penalties of 0.1% of the tax due for each day of delay and the LAK 500,000 for late filings and payments of...

Due to the continuation of the COVID-19 crisis in the Lao PDR, the Ministry of Finance has issued a second Notification (No. 0764, dated 21 April 2020), replacing the Notification No. 0636, dated 26 March 2020, to further postpone the filing date of the financial statements for 2019 to 29 May 2020 (from the first postponed filing...

The Vietnamese Prime Minister approved Decree 41/2020/ND-CP (“Decree 41”) allowing the deferral of value added tax (“VAT”), corporate income tax (“CIT”), personal income tax (“PIT”) and land rental fee payments to support enterprises, individuals and household businesses affected by the COVID-19 global pandemic. Decree 41 took immediate effect on 8 April 2020, the primary features...

Ministry of Finance Issues New Notification Announcing Personal Income Tax Exemptions to Mitigate the Impacts of COVID-19 The Ministry of Finance of the Lao PDR issued a new Notification (No. 1027/MOF) on 10 April 2020 to implement the Prime Minister’s Decision on Policies and Measures to Mitigate Impacts Caused by the COVID-19 global pandemic. The...

To mitigate and assist businesses that are affected by the COVID-19 outbreak, the Prime Minister has issued Decision No, 31/PM, dated 2 April 2020) on Policies and Measures to Mitigate Impact from COVID-19 to the Lao Economy. The Decision provides for policies, measures and instructions for implementation.   We provide below a brief summary of the key take...

On 27 March 2020, the Ministry of Finance enacted Ministerial Regulation No. 361 (the “Ministerial Regulation”) that is issued under the Thai Revenue Code and provides for withholding tax relief in addition to previous COVID-19 Relief Measures. As far as relief measures for affected businesses are concerned, the Ministerial Regulation provides that the withholding tax...

On 31 March, the Royal Government of Cambodia issued a press release outlining their additional measures to support the private sector and employees who are impacted by the COVID-19 epidemic. These measures are in addition to those issued in recent weeks by the Government to provide tax relief to affected sectors. We outline the additional...