Legal and Tax Updates

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...

Previously any entities formed under the Myanmar Company Act 1914 (“MCA”) or the Special Companies Act 1950 (“SCA”) had to be registered to participate in export/import related activities with the required foreign Exporter/Importer Registration Certificates. These certificates were issued and approved by the Ministry of Commerce. Since the enforcement of the Myanmar Companies Law 2017...

As foreign investment grows in Thailand, so does the number of foreign individuals who own assets in the form of shares, bank accounts, condominiums that permit foreign ownership, and other movable and immovable assets. Understandably, people are often reluctant to consider their own mortality, however personal estate and succession planning are crucial in terms of...

Early July, the Office of the Ombudsman of Thailand has determined that the Electricity Generating Authority of Thailand (“EGAT”) should increase its domestic power generation capacity to at least 51% of the total in order to be compliant with the new constitution. EGAT currently owns just 37% of the national generating capacity, which has declined...

On 3 May 2019 the Ministry of Industry and Trade of Vietnam (the “MOIT”) submitted to the Prime Minister a draft decision intended to replace Decision No. 11/2017/QD-TTg of the Prime Minister on mechanisms for the encouragement of development of solar power, dated 11 April 2017 (“Decision 11”). In response to this submission, the Prime...