Tax Updates During the COVID-19 Crisis

Notification no. 7179 GDT dated 18 April 2021 (“Notification 7179”) from the General Department of Taxation (“GDT”) provides procedures for the submission of scanned application forms, administrative letters, other documents or tax returns to the GDT, including tax branches in Phnom Penh and the provinces, via online (E-Document Submission System). Summary Due to the spread...

Notification no. 7175 GDT dated 16 April 2021 (“Notification 7175”) from the General Department of Taxation (“GDT”) provides an extension of the due date for the March 2021 monthly tax returns and payment. Key Takeaway For taxpayers whose businesses are prohibited to operate under Decision No. 49 the deadline for the March 2021 monthly tax...

1. LAND AND BUILDING TAX On 26th January, the Cabinet approved legislation with measures to reduce the tax on land and buildings, and land registration fees for residential housing as a means of alleviating the ongoing impact of the COVID-19 situation in Thailand. The new measures include: A 90% reduction of the land and building...

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...

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...

On 31 July 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 5’ 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) already in place. In addition to providing relief...

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...