Legal and Tax Updates

With the 2018 year well under way it is now time for enterprises in Cambodia to turn their attention to their annual compliance obligations. We sumarise these below for your reference. 2018 Patent Tax All taxpayers operating in Cambodia are required to register and pay Patent Tax by the 31st  of March each year for...

With the turn of the year, we are seeing a number of power projects receiving the green light to move forward. These projects are located both inside and outside of Myanmar’s Special Economic Zones (“SEZ”). While the investment benefits provided by the Myanmar Investment Commission may overlap with the SEZ in many circumstances, there are...

On 15 February 2018, the General Department of Taxation (“GDT”) released Notification 2126, which provides the “market rates” for determining the caps on interest rate deductions for loans that had been entered into using Khmer Riel (“KHR”) and United States Dollars (“USD”) in the 2017 financial year. The “market rates” for 2017 are as follows:...

Myanmar Internal Revenue Department (IRD) to implement online tax payment system starting February 2018 The Myanmar IRD will implement an online payment system this month through which taxpayers can easily submit their due taxes. This online system aims to reduce delays resulting from manual filing and the clearing of checks with local banks and to...

Benefits of private PPAs Corporate, direct or private renewable power purchase agreements (“PPAs”) have become increasingly popular worldwide as a way for companies with high electricity needs to reduce their long-term energy costs, as well as their carbon footprint. As Vietnam’s renewable energy market continues to grow in light of the recent introduction of a...

The first month of 2018 has brought with it a number of important tax and customs updates which we summarize in this tax alert. We should note that January 2018 began with an important statement from the General Department of Taxation (GDT) announcing the entry into force and effect of two Double Taxation Agreements, one...

A ‘tax audit’ as commonly termed in practice, is officially referred to as a “tax examination” or “tax inspection” by the Law on Tax Administration. These activities are conducted by the tax authorities to review the tax compliance status of taxpayers. As usual, the tax audit plan for 2018 has been activated through the issuing...

CORPORATE & COMMERCIAL LABOUR LICENSING REQUIREMENTS FOR PRIVATE AGENCIES PROVIDING LOCAL RECRUITMENT SERVICES IN CAMBODIA, Prakas № 463 of the Ministry of Labour and Vocational Training (“MLVT”), dated 28 October 2016. Prakas 463 aims to regulate private agencies providing local recruitment services in Cambodia (“Private Agency”). This Prakas applies to all types of Private Agencies....

The Tax Department of the Ministry of Finance in the Lao PDR has issued a new regulation No. 169/TD dated 11 January 2018 on implementing new excise tax rates on fuel, alcohol, tobacco and certain entertainment categories for 2018 in the Lao PDR. The new applicable tax rates for 2018 are as follow:   The...

In 2015, Vietnam’s National Assembly approved Penal Code No. 100/2015/QH13 dated 27 November 2015, (“Penal Code”). The Penal Code was due to take effect on 1 July 2016 and included new offences that criminalized certain anti-competitive practices that would otherwise be dealt with through the Competition Law. The Penal Code has important implications for participants...