Legal and Tax Updates

The new Law on Tax Administration No. 38/2019/QH14 (“LTA” or “new Law”) was passed by the National Assembly in June 2019 will become effective from 1 July 2020. New provisions relating to electronic invoices and electronic documents take effect from 1 July 2022. We summarize below some of the salient features of the new Law....

The Association of Fire Prevention Enterprises of Cambodia (“AFPE”) in conjunction with the National Quality Inspection Centre for fire Safety Systems (“NICS”) hosted a seminar on 9 September 2019 on the introduction of the National Standard Book on Fire Safety Systems – Building Design Code. This new Code has been developed by the General Commissariat of...

Cambodia has signed a Double Taxation Agreement (“DTA“) with Malaysia on the 3rd of September 2019 during the visit of Malaysian Prime Minister Tun Dr Mahathir Mohamad to Phnom Penh. Under the DTA, double taxation will be avoided in that any tax paid in Cambodia by Malaysian companies in accordance with the DTA will be...

REINSURANCE BUSINESS LICENSING REINSURANCE ACTIVITIES IN CAMBODIA, Prakas № 323 of the Ministry of Economic and Finance (“MEF”), dated 20 March 2019. Pursuant to Article 41 of the Insurance Law (“Insurance Law 2014”) dated 4 August 2014, insurance activities in Cambodia are categorized into four types including (i) life insurance, (ii) general insurance, (iii) reinsurance...

By way of advance notice, please note that the window to apply for the 2020 foreign employee quota will open in September 2019.   Organizations employing or intending to employ foreign employees in 2020 are required to apply for a foreign employee quota from the Ministry of Labour and Vocational Training (“MLVT”). Under the quota...

Following the issuance of a Notice of Tax Re-Assessment or a Notification Letter for Tax Collection from the General Department of Taxation (“GDT“) at the end of a tax audit investigation or a tax disputes process a Taxpayer may be in the position where they have to pay a significant amount of re-assessment tax, penalties...

On 23 August 2019, the Ministry of Planning and Finance (“MOPF”) issued Notification 69/2019 (“Notification 69”) that clarifies the tax exemptions that would apply to projects that are implemented through Grant Aid and Concessional Loans as approved by the Myanmar Government. This is anchored by Sections 15(a) and 31(b) of the 2018-2019 Union Taxation Law...

NEW FiT FOR SOLAR ENERGY PROJECTS The Ministry of Industry and Trade of Vietnam (“MOIT”) announced it would submit by 15 September 2019 the final draft Decision of the Prime Minister, on the mechanism for encouraging the development of solar power projects in Vietnam, (the “Final Draft Decision”) to the Prime Minister and Office of...

On 5 August 2019, the Ministry of Planning and Finance (“MOPF”) issued Notification 64/2019 (“Notification 64”) that provides the procedures on the collection and assessment of taxes for the six-month transition period starting 1 April to 30 September 2019. This Notification, which is in accordance with Section 40 of the 2018-2019 Union Taxation Law and is...

IMMIGRATION TERMINATION OF THE APPLICATION FOR IMMIGRANT FOREIGN NATIONAL AND PERMANENT RESIDENCE CARDS, Prakas № 5671 of the Ministry of Interior (“MOI”), dated 01 July 2019. The purpose of this Prakas is to terminate applications for immigrant foreign national and permanent residence cards as set out in Clause 3 of the Prakas No. 4504, dated...