Legal and Tax Updates

On 30 August 2019, the President Office issued Directive no. 2/2019 (“Land and Property Bank Notification”) to facilitate easier access of investors to land information. The Land and Property Bank Notification sets out how the Land and Property Bank will be established, the role of the relevant governmental departments and individuals in retaining information at...

Draft Law on E-Commerce, adopted by the National Assembly on 08 October 2019. The Draft Law on E-Commerce (“Draft Law”) was adopted by the National Assembly on 08 October 2019 and is currently subject to review by the Senate. The Draft Law aims to govern electronic commerce in Cambodia, provide legal certainty in commercial and...

Vietnam has issued the Decree Regulating Penalties for Administrative Breaches in the Competition Sector (Decree No. 75/2019/ND-CP) (“Decree 75”) dated 26 September 2019. Decree 75 sets out the forms of administrative breaches regarding competition, levels and forms of penalties and related procedures, measures and authority for imposing administrative penalties under the Competition Law (Law No. 23/2018/QH14...

Following approval by the Council of Ministers on 30 August 2019, the National Assembly of Cambodia approved the law on Construction on 8 October 2019. The new law contains 22 chapters and 111 articles and aims to regulate the construction sector and implement adequate technical and safety standards on construction sites throughout Cambodia. This law establishes...

On 24 September 2019, the Union Parliament enacted the 2019 Union Tax Law (“2019 UTL”). One of the major features of this law is the introduction of a tax amnesty for Myanmar citizens with undisclosed sources of income. The new law provides for a reduced rate of tax based on the taxpayer’s unassessed income. The...

JOINT PRAKAS NO. 257 REGARDING THE USE OF ENTERPRISE-COMPANY NAMES ON LETTERS, FILES, SIGNAGE DISPLAYS OR PUBLIC ADVERTISEMENTS DATED 11 SEPTEMBER 2019 BY THE MINISTRY OF COMMERCE AND MINISTRY OF TOURISM (“JOINT PRAKAS”) This Joint Prakas aims to regulate and maintain public order on the use of enterprise-company names on letters, files, signage displays or...

The General Department of Taxation (“GDT”) issued Notification no. 21401 on the 25th of September 2019 extending the deadline for the filing and payment relating to Tax on Immovable Property from 30 September 2019 to 31 October 2019. The 2019 Property Tax payment can be made at any tax branch or any branch of Canadia,...

After a hiatus of 2 years, the Ministry of Industry and Commerce (“MOIC”) has reopened applications for the establishment of consulting businesses in the Lao PDR in accordance with Notification Nº 1810/Cab.DERM dated 26 August 2019, which revokes the previous suspension. Interested entrepreneurs must first submit an application to the Enterprise Registry Office of the...

In an effort to increase foreign investment in Myanmar and allow foreigners to directly invest in the companies listed with the Yangon Stock Exchange (“YSX”), the YSX recently published a framework and schedule (“FS”) on 6 September 2019. The FS permits foreigners to invest in the shares of companies listed on the YSX and would...

The Ministry of Land Management, Urban Planning and Construction (“MLMUPC”) together with the Ministry of Justice on 2 August 2019 jointly issued Prakas No. 118 BK/DNS-KY on Procedures and Formalities of Construction Inspections (“Prakas No. 118”). The purpose of this Prakas No. 118 is to determine the procedures and formalities concerning the inspection of real...