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The banking industry in the Kingdom of Cambodia has been developed from scratch and there have been numerous legal reforms since 1992, including the banking legal framework and capacity building for officials of the National Bank of Cambodia (“NBC”). In order to maintain the trust of the public and investors, NBC has enacted various banking...Read more »
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By Huy Cam Luu
The Vietnamese General Department of Taxation (“GDT”) has updated its Non-Member Country Positions (“NMCP”) to the OECD Model Tax Convention Countries. NMCPs are from countries that are not a member of the OECD, but nevertheless, express a view on the text of the widespread OECD Model and OECD Commentary. These NMCPs are published by the OECD.
Vietnam has already published its position in the earlier versions of the OECD Model, but the 2008 update by the GDT has just been made available. It offers a rare opportunity to get a sense of shifts in DTA (double taxation agreement) policy of the GDT....Read more »
To date, the Securities and Exchange Commission of Cambodia (SECC), as the securities regulator in Cambodia, has licensed and accredited all relevant securities related operators, including securities market, securities depository, clearance and settlement facility operators, underwriters, dealers, brokers, investment advisors, securities representatives, investment advisory representatives, securities specialized accounting firms, cash settlement agents, securities registrars, securities...Read more »
BANKING AND FINANCE On the selection criteria for strategic shareholders of the equitised State-owned commercial bank (SOCB). Circular № 10 of State Bank of Vietnam, 22 April 2011 This Circular defines the purposes and minimum requirements that SOCBs have to meet in selecting either domestic or foreign strategic shareholders. An example of such requirement includes...Read more »
On 16 February 2011, the Vietnamese Government issued a new regulation Decree 15-2011-ND-CP replacing Decision 272-2006-QD-TTg of the Prime Minister on the provision and control of government guarantee for foreign loans dated 28 November 2006 (“Decree 16”). Responsible Government Organization The Ministry of Finance remains the main Government body responsible for issuing and managing government...Read more »
The Vietnamese General Department of Taxation (“GDT”) has updated its Non-Member Country Positions (“NMCP”) to the OECD Model Tax Convention Countries. NMCPs are from countries that are not a member of the OECD, but nevertheless, express a view on the text of the widespread OECD Model and OECD Commentary. These NMCPs are published by the...Read more »
What is a Director?
Limited companies are juristic entities that cannot act alone. A limit company requires directors and shareholders to act on its behalf. The Law on Enterprises (№ 11/NA, 9 November 2005) (“Enterprise Law”) is the main law governing the duties and liabilities of company directors in the Lao PDR. ...Read more »