Legal and Tax Updates

According to the Notification from the Office of the Council of ministers (Sor.Chor.Nor No.528) dated 7 May 2018, the Royal Government of Cambodia approved the change of format of the certificate of ownership over immovable property. The old form of certificate as previously issued to owners remains valid without them having to change to the...

The Prime Minister’s Office has issued a Notification (№ 560/PMO, 20 April 2018) (“Notification 560”) increasing the monthly minimum wage in Lao PDR from 900,000 LAK (USD 108) to 1.1 million LAK (USD 132). The increase took effect 1 May 2018, thereby coinciding with International Labor Day celebrations. Per local media and understanding of the...

The National Committee for setting the Minimum Wage issued Notification 2/2018 establishing an increased daily minimum wage of MMK 4,800 (approximately USD 3.60), for an eight-hour workday.  The increased minimum wage does not apply to small businesses with less than 10 workers and family businesses.   Notification 2/2018 replaces Notification 2/2015 which establish the last...

The Emergency Decree on the Digital Asset Businesses B.E. 2561 (2018) (the “EDDAB”) was published in the Government Gazette on 13 May 2018 with effect from 14 May 2018. Simultaneously, the Thai Government enacted the Emergency Decree on the Amendment to the Revenue Code B.E. 2561 (2018) with the objective of imposing levies on income...

The Internal Revenue Department (“IRD”) recently issued an announcement (under LTO letter No. 5274 dated 9 May 2018) stating that banks and financial institutions must adopt the new financial year for reporting purposes (i.e., starting 1 October 2018), in order to come into alignment with the Central Bank of Myanmar’s (“CBM”) new reporting requirements. Our...

With the issuing of Notification 15 of 2017 (“Restriction List”) under the Myanmar Investment Law 2016 (“MIL”), retail and wholesale activities by foreign investors are now permissible with approval from the Ministry of Commerce (“MOC”). The MOC has also announced the imminent circulation of Notification 25/2018 on trading and wholesaling activities for foreign investors. This...

In a bid to encourage more investments in the energy sector, the Philippine Department of Energy finally released the rules for streamlining regulatory procedures covering energy projects of national significance. Developers can now rejoice at the expedited process in obtaining the permits for their projects. Read on to know more about this development. Click here to download...

A BOI announcement on 12 March 2018 has promoted Chachoengsao, Chonburi, and Rayong Provinces as part of the development of the Eastern Economic Corridor (EEC), a pilot project to encourage increased economic development across Thailand’s Eastern Seaboard. Over the past 30 years, these three provinces have been developing to keep up with the fast growing...

CORPORATE & COMMERCIAL TRANSPORTATION  PERMIT REQUIREMENT FOR VEHICLES USED IN IN-COUNTRY LAND TRANSPORT BUSINESS IN CAMBODIA Prakas 343 of the Ministry of Public Works and Transport (“MPWT”), dated 6 October 2017. Parkas 343 aims to regulate vehicles engaging in land transport business and the land transport of goods and passengers in Cambodia (“Land Transport Business...

The Ministry of Labour and Vocational Training (“MLVT”) recently issued a second Notification 016/18 on 25 April 2018, in which it extends the period to apply for the renewal of foreign employee work permit applications for 2018 until 31 May 2018. In light of the ongoing steps by the authorities to enforce the laws regarding...