Legal and Tax Updates

The Central Bank of Myanmar recently issued a directive which goes considerable distance in further liberalizing and encouraging market access to local companies. The directive will foster increased competition in the market and addresses the persistent grievances of local companies in terms of their access (or the lack thereof) to channels and sources of foreign...

On 10 October 2018, the Thai government announced the cessation of the International Headquarters (“IHQs”) program (which also included Regional Operating Headquarters or “ROHs” and International Trading Centers or “ITCs”) and the creation of a replacement initiative; International Business Centers (“IBCs”). The move is part the OECD Inclusive Framework for Base Erosion and Profit Shifting...

Sub-Decree No. 124 R.N.Cr.BK (“SD 124”) that came into effect on the 2nd of October 2018 has introduced important tax incentives for qualifying Small and Medium Enterprises (“SME’s”) operating in defined priority sectors in Cambodia.   We have summarized the key points addressed by SD 124 below: SD 124 applies to Small and Medium Enterprises...

On 14 September 2018, the Ministry of Construction (“MOC”) issued Notification 227/2018 (the “Notification”) “Appointing Registrar and Opening Registration Office relating to Condominiums” as part of the implementation of the Condominium Law 2016 (“Condo Law”) and Condominium Rules Notification 267/2017 (“Condo Rules”). This welcome development establishes the long awaited condominium registration offices allowing developers to...

PROVISION OF SENIORITY PAYMENTS, Prakas 443 of the Ministry of Labour and Vocational Training (“MLVT”) dated 21 September 2018. After the amendments to the Labour Law (including the introduction of seniority payments), which came into effect on 26 June 2018 (as discussed here) the MLVT issued Prakas 443 on Seniority Payments (“Prakas 443”) on 21...

REAL ESTATE DELEGATION OF AUTHORITY TO ISSUE RESIDENTIAL CONSTRUCTION PERMITS TO DISTRICT/MUNICIPALITY/KHAN ADMINISTRATION, Letter № 1472 of the Ministry of Interior (“MOI”), dated 16 August 2018. In response to demands from local communities for residential construction and the more effective provision of administrative services in regard to construction, the Ministry of Land Management, Urban Planning,...

On 25 September 2018, the Union Parliament (“Pyidaungsu Hluttaw”) enacted the 2018-2019 Union Tax Law (“2018-2019 UTL”) which provides clarity on the transition period regarding the change in the tax year of reporting along with tax rates and exemptions applicable to certain goods and services in Myanmar. For State-owned enterprises (“SOEs”), the 2018-2019 UTL is effective...

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, tailored, and practical advice on issues that arise in...

BACKGROUND On 7 September 2018, the Ministry of Construction of the Union Government of Myanmar (“MOC”) officially opened the Request for Qualifications (“RFQ”) phase of the USD 400 Million Yangon Elevated Expressway Project (“the Project”).  The Project is set to be one of the largest infrastructure projects ever undertaken in Myanmar and will take the...

The Ministry of Justice, the Supreme People’s Procuracy and the Supreme People’s Court issued Joint Circular No. 07/2018/TTLT-BTP-VKSNDTC-TANDTC dated 12 June 2018, on cooperation in enforcement of court’s decisions on bankruptcy settlements (“Joint Circular 07”), which came into effect on 1 August 2018. Joint Circular 07 sets forth new guidelines on cooperation in the procedures...