Legal and Tax Updates

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...

On 10 September 2018, the Prime Minister issued Decision No. 39/2018/QD-TTg (“Decision 39”), amending Decision No. 37/2011/QD-TTg of the Prime Minister dated 29 June 2011 on mechanisms to support the development of wind power projects in Vietnam. Under Decision 39, the wind FIT (excluding VAT) will be VND 1,928 per kWh (equivalent to US cents...

The Myanmar Companies Law (“MCL”), with a view to promote corporate governance and transparency has defined related parties and come up with compliance requirements for related party transactions which is one of the distinct features of the new law. The changes which have been introduced to the MCL affects the general financing between related parties...

The General Department of Taxation issued Notification no. 14737 on the 28th of September 2018 which has extended the due date for the annual payment of Immovable Property Tax (“Property Tax”) from 30 September 2018 to 31 October 2018. The 2018 Property Tax payment can be made at any tax branch or any branch of...

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...