Legal and Tax Updates

August 1st, marked the launch of the Directorate of Investment and Company Administration’s (“DICA”) online registry system, Myanmar Companies Online (“MyCO”). Through this release, Myanmar has made a notable stride forward in its efforts to attract greater levels of foreign participation and investment. The corporate compliance process is now significantly more streamlined and efficient under...

We wish to take this opportunity to advise enterprises wishing to employ foreign employees in 2019 that the application window for the 2019 foreign employee quota will open on 1 September 2018. On 20 August 2018, the Ministry of Labour and Vocational Training (“MLVT”) issued Notification 028/18 confirming that all quota applications must be submitted...

Instruction 11946 issued by the General Department of Taxation (“GDT”) on the 21st of August 2018 (“Instruction 11946”) provides an important clarification regarding the determination of interest rates between related parties. Since the introduction of Circular 151 in early 2014 Cambodian taxpayers were historically able to receive and extend interest free loans to domestic as...

CORPORATE & COMMERCIAL EMPLOYMENT SECTOR Law on Amendments of Article 87 (K), Articles 89, 90, 91, 94, 110,120 and 122 of the Cambodian Labour Law dated 13 March 1997, dated 26 June 2018 (“Amendment Law”) The Amendment Law has introduced significant changes to the 1997 Labour Law, in particular to provisions relating to termination and...

DFDL’s collaborating firm in the Philippines, OS Law, gave clients, both local and international, an update on pressing legal issues. Atty. Jude Ocampo discussed recent developments on data privacy, job contracting and constitutional law.  Agenda DATA PRIVACY: The National Privacy Commission has identified enforcement as its focus for the year 2018. 2017’s focus was compliance while 2016’s was...

The Law on Minimum Wage was promulgated on 6 July 2018 and now guarantees a minimum wage for employees covered by the provisions of the Labour Law. A tripartite National Council on Minimum Wage (“NCMW”), comprised of the government, employer representatives, and employee representatives, will be established to study, research and provide recommendations on the...

Prakas 597 titled “The Recognition and Tax Obligation regarding the supply of Goods and Services made by an Agent on behalf of a Principal” was issued on 27 June, 2018 (“Prakas 597”) and provides some important clarifications and requirements for a number of taxpayers currently operating in Cambodia. This update is extremely important to those...

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...