On Monday, 15 December 2014 the Thailand Board of Investment (BOI) held a seminar entitled “The Seven-Year Investment Promotion Strategy (2015 – 2021): Investment Promotion Criteria and Activities” at Impact Arena in Bangkok. Presided over by Prime Minister H.E. General Prayut Chan-O-Cha attended by over 2,000 representatives from the public and private sectors including advisers...
Read more »Quantera Global, our Transfer Pricing partner firm, published an article on the China Advance Pricing Arrangement (APA) Annual Report in the beginning of this month. The fifth annual APA report updates taxpayers on the mechanisms, procedures and track record of the APA program in China. The State Administration of Taxation (“SAT”) issued the “China Advance...
Read more »It is often stated that over 100 countries have competition laws with a majority providing for merger control regimes. Thailand, despite having a comprehensive completion law since 1999 has still not implemented the merger control provisions of the Trade Competition Act (the “TCA”). In 2013, the Trade Competition Commission (the “TCC”) passed draft merger review...
Read more »On 25 November 2014, the National Assembly of Vietnam passed the new Law on Residential Housing which replaces the current one and the pilot scheme for foreign ownership of residential houses in Vietnam that expired in December 2013. The new law, with many relaxing conditions for foreign ownership of houses in comparison with the current...
Read more »The National Assembly adopted an amended Labor Law (No. 43/NA, 24 December 2013) (“2013 Labor Law”) which was published in the Lao Gazette on 14 October 2014 and became effective on 29 October 2014. The 2013 Labor Law repeals the Labor Law (No. 06/NA, 27 December 2006) (“2006 Labor Law”) and applies to Lao and...
Read more »We would like to bring to your attention key legal notifications that have been issued in Vietnam recently: Guidance in naming a company correctly Educational operation license required for foreign schools having had an operational license granted before 15 November 2012 Mining right: commission fee from USD 100 to USD 600 Suspension of temporarily importing...
Read more »Recently several notifications and amendments have been issued in the Lao PDR: Amended Law on Enterprises (“2013 Enterprise Law”) Notification on Importation of Materials, Products and Objects (“Notification 06068”) Notification on Condition and Document Completion for the Establishment of Financial Leasing Company (“Financial Leasing Company Notification”) Decision on Forward Contract for the Sale-Purchase of Foreign...
Read more »Our partner firm for Transfer Pricing, Quantera Global, recently published this paper. Introduction The Inland Revenue Authority of Singapore (“IRAS”) looks set to bolster its transfer pricing guidelines following a consultation paper released on the 1st September 2014. This is set against the backdrop of the OECD’s Base Erosion and Profit Shifting (“BEPS”) initiative, and...
Read more »In recent months, the DOIC has issued several notifications to monitor the registered and operating legal entities under its authority. Amendment of Enterprise Registration Certificate for Consulting Company Registered with Vientiane Department of Industry and Commerce On 7 August 2014, the DOIC published Notification No. 1495/DOIC requesting legal entities conducting consulting activities, such as...
Read more »New OFAC Guidelines on the 50% Rule While there has always been an element of risk in dealing with any entity in which one or more persons on the OFAC SDN list have an ownership interest, the new policy extends its realm of influence by stating that any property or entities directly or indirectly 50%...
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