Legal and Tax Updates

Due to the continuation of the COVID-19 crisis in the Lao PDR, the Ministry of Finance has issued a second Notification (No. 0764, dated 21 April 2020), replacing the Notification No. 0636, dated 26 March 2020, to further postpone the filing date of the financial statements for 2019 to 29 May 2020 (from the first postponed filing...

In accordance with the press release on instructions of the Royal Government of Cambodia on further measures to help the private sector and employees severely affected by Covid-19 (Round 3, 07 April 2020), the Ministry of Labor and Vocational Training (“MLVT”) issued Instruction No. 045/20, dated 17 April 2020, on suspension of employment contracts and...

As May 2020 approaches, many companies in Thailand are focusing their attention on the impending adoption of the Thailand’s new data protection legislation, the Thai Personal Data Protection Act B.E. 2562 (2019) (“PDPA”). This act will significantly impact businesses handling personal data and impose quite substantial penalties on organizations that mishandle or even “accidently” fail...

The Vietnamese Prime Minister approved Decree 41/2020/ND-CP (“Decree 41”) allowing the deferral of value added tax (“VAT”), corporate income tax (“CIT”), personal income tax (“PIT”) and land rental fee payments to support enterprises, individuals and household businesses affected by the COVID-19 global pandemic. Decree 41 took immediate effect on 8 April 2020, the primary features...

In these unprecedented times that we face in light of COVID-19, there has never been a more important time for investors, targets and sponsors alike to look at any proposed M&A or financing transaction from a variety of different angles to align their respective interests in order to mitigate the risks and capture the opportunities...

After consideration of multiple drafts, the Prime Minister of Vietnam issued Decision No. 13/2020/QD-TTg dated 6 April 2020 (“Decision 13”) on mechanisms to encourage the development of solar power projects in Vietnam. Decision 13 replaces Decision No. 11/2017/QD-TTg of the Prime Minister of Vietnam dated 11 April 2017 (“Decision 11”), which successfully promoted the development...

Travel Ban To prevent the community spread of Covid-19, the Royal Government of Cambodia (“RGC”) issued Travel Ban Order 02 on 9 April 2020, effective from midnight of 9 April 2020 to midnight of 16 April 2020 (“Travel Ban Order”). This travel ban is supplemented by Decision 39 on Amendment of Travel Ban Order issued...

Ministry of Finance Issues New Notification Announcing Personal Income Tax Exemptions to Mitigate the Impacts of COVID-19 The Ministry of Finance of the Lao PDR issued a new Notification (No. 1027/MOF) on 10 April 2020 to implement the Prime Minister’s Decision on Policies and Measures to Mitigate Impacts Caused by the COVID-19 global pandemic. The...

An e-signature is a legal way to obtain consent or approval of electronic documents and can replace a handwritten signature. This topic is cropping up much more frequently these days as many people begin to work from home full-time amid the COVID-19 crisis. Our experts have provided a country-by-country breakdown of the types of documents along...

Vietnam recently issued Decree 35 on Detailed Regulations for Implementation of the Law on Competition dated 24 March 2020, (“Decree 35”) which takes effect on 15 May 2020. This was an essential step in commencing the competition regime contemplated under the Law on Competition dated 12 June 2018 (“Competition Law”). Although the Competition Law formally...