Legal and Tax Updates

A new electronic registry system called Myanmar Companies Online (“MyCo”) is to be launched with the coming into force of the new Myanmar Companies Law 2017 (“MCL”) on the 1st of August. The Directorate of Investment and Company Administration (“DICA”) is introducing MyCo with the purpose of streamlining company filings and making the process more...

REAL ESTATE PRAKAS NO.087 DATED 11 MAY 2018 ON LAND DEVELOPMENT FROM THE MINISTRY OF LAND MANAGEMENT, URBAN PLANNING AND CONSTRUCTION The Prakas No. 087 aims to determine measures addressing both private and public land development in Cambodia: – Mechanisms, formalities and procedures on land development; – Technical conditions of land development to ensure decent...

Contributed by Ocampo & Suralvo Law Offices Philippine Department of Transportation Issues Rule Disqualifying Companies with Pending Cases against the Philippine Government from Participating in Public Bidding for Transportation Projects The Department of Transportation (“DOTr”) has issued a Memorandum dated June 26, 2018 which disqualifies bidders with pending case/s against the Philippine Government from participating...

It is fair to say that one of most consistent complaints we hear from taxpayers regards the issues associated with applying and obtaining a Value Added Tax (VAT) refund in Cambodia. Until now the VAT refund process was a very lengthy process – sometimes taking years – and often subject to uncertainty and delays. It...

Regional Legal Update on Labor and Employment Law Issues DFDL’s Employment Practice Group is dedicated to advising clients on employment and labor issues and preparing human resources documentation that is compliant with local laws.  Our employment team’s in-depth knowledge of the law and practices in the countries where we operate allows us to provide specialized,...

The Ministry of Planning and Finance issued Notification 47/2018 on 18 June 2018 outlining the new withholding tax (“WHT”) rules that now apply on payments to resident and non-resident taxpayers in Myanmar. This Notification is effective from 1 July 2018 and will supersede the current WHT Notification 51/2017 that was issued last 22 May 2017....

Contributed by Ocampo & Suralvo Law Offices Republic Act (R.A.) No. 11032 or the “Ease of Doing Business and Efficient Government Service Delivery Act of 2018” Are bureaucratic woes and red-tape soon a thing of the past? The Philippines vows to fight red-tape, ease the conduct business transactions, and ensure efficient processes with an overhauled...

Vietnam amends its Legal Framework on Public Private Partnerships The Rationale for PPPs in Vietnam Improvements to Vietnam’s transportation network, electricity system, water supply network, irrigation systems, telecommunication infrastructure, education and healthcare systems have all been identified as key targets in the Government’s latest 5-year socio-economic development plan. According to estimates of Vietnam’s Ministry of...

CORPORATE & COMMERCIAL NATIONAL SOCIAL SECURITY FUND AMENDMENTS TO THE PROVISIONS REGARDING HEALTH CARE BENEFITS AND ENFORCEMENT OF LEGAL MEASURES ON LATE PAYMENTS TO THE NATIONAL SOCIAL SECURITY FUND, Prakas 184 on Amendments to Articles 2, 4, 5, 6, 7, 8 and 10 of Prakas 109 dated 17 March 2016 (“Prakas 109”) of the National...

Our Tax Team would like to remind you of the fast-approaching submission deadline for your annual Corporate Income Tax (“CIT”) return, annual Commercial Tax (“CT”) return, and annual Personal Income Tax (“PIT”) statement. For the financial year ending 31 March 2018 (FY 17-18), all annual tax filings must be submitted to the relevant tax office...