Introduction On 7 April 2022, the Department of Finance (DOF) issued Revenue Regulation (RR) No. 3-2022 to implement Republic Act (RA) No. 11635. RA No. 11635 provides for income tax on proprietary educational institutions and hospitals, which are non-profit organisations. RR No ...

DFDL | May 2022

On 17 February 2022, the Royal Government of Cambodia issued the Sub-Decree on the Organization and Functioning of the Cambodia Competition Commission (“CCC“) (No. 37 ANKR.BK) (“Sub-Decree“). The Sub-Decree provides the structure and function for the Cambodia Competition Commission, the regulatory authority designated under the Law on Competition ...

DFDL | May 2022

The State Administration Council (“SAC”) of Myanmar, by way of Order 33/2022, has reconstituted the Ministry of Electricity and Energy (“MOEE”) into two separate ministries: the Ministry of Electric Power (“MOEP”) and the Ministry of Energy (“MOE”) ...

SmartAir, a social enterprise that educates the public about air pollution, has been shortlisted for the “Powered by Pro Bono Award” at this year’s TrustLaw Awards. This award highlights NGOs or social enterprises that have used pro bono legal advice to scale up their operations, improve the delivery of their social mission or pivot their activities to make a greater impact on the businesses and people they support ...

DFDL | May 2022

On 28 March 2022, the Ministry of Labour and Vocational Training (“MLVT”) issued Notification 011/22 (“Notification”) to extend the deadline for foreign employee work permit applications from 31 March 2022 to 31 May 2022. The extension is aimed to help foreign employees who are not able to renew or apply for work permit on time in light of the COVID-19 outbreak ...

Developments in light of COVID-19 Unlike previous years, there were no major legislations or government regulations on labor and employment issues in 2021 ...

Kudun and Partners | April 2022

Kudun Sukhumananda, partner and co-head of corporate and M&A Practice, Supatra Kerinsaguna, senior associate, Koraphot Jirachocksubsin, lead associate of digital law practice and Suchaya Tangsiri, lead associate of startup practice were invited to speak at the Faculty of Law, Chulalongkorn University on the topic “Legal Accelerator for Innovation Commercialization” which focuses on digital law, digital asset, corporate law and regulations including M&A transaction ...

Kudun and Partners | April 2022

Following its initiative to encourage investment in the electric vehicles (EV) sector in 2017, the Office of the Board of Investment (“BOI”) anticipates the expansion of the domestic market for EV manufacturing in Thailand, as it encourages consumers to embrace utilizing EVs ...

Introduction Prior to the implementation of the Corporate Recovery and Tax Incentives for Enterprises Act (the CREATE Act), the Philippines adhered to the "cross-border doctrine", under which ecozones and freeport zones were considered foreign territories, even if they were situated within the Philippines ...

Shearn Delamore & Co. | April 2022

Financial ServicesRevision to The Guidelines on Market Conduct and Business Practices for Stockbroking Companies and Licensed RepresentativesThe Securities Commission Malaysia has revised its guidelines on market conduct and business practices for stock broking companies and licensed representatives which takes effect on 4 April 2022 ...

Kudun and Partners | April 2022

Kudun and Partners team headed to the Sirindhorn International Environmental Park in Cha-am, Phetchaburi province earlier to participate in a mangrove forest planting activity in honor of Earth Day, which is observed worldwide on April 22nd to raise environmental awareness and encourage environmental protection. According to the Earth Day Network, each year between 2015 and 2020, 10 million hectares of forest were cleared throughout the world ...

DFDL | April 2022

The Ministry of Planning and Finance issued Notification 20/2022 on 31 March 2022 reiterating that companies and non-profit organizations were required to obtain a Taxpayer Identification Numbers (“TIN”) with the Internal Revenue Department (“IRD“). Under this Notification, companies and non-profit organizations that have not yet secured a TIN must apply for one by these deadlines: Taxpayer Deadline 1 ...

Kudun and Partners | April 2022

Kudun Sukhumananda , one of the founding partners of the firm and co-head of Corporate and M&A was invited to speak in an academic forum on “Legal Issues and Driving Innovation to Commerce” hosted by the Faculty of Law, Chulalongkorn University together with UTC, the university’s technology center ...

In March 2021, the Philippine Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order No. 014-21 (the Memorandum), which streamlines the procedures for non-resident corporations and other juridical entities (collectively "non-resident taxpayers") to access Philippine tax treaty benefits ...

In September 2021, the House of Representatives of the Philippines approved House Bill (HB) 7425 upon its third reading. HB 7425 seeks to impose a 12% value-added tax (VAT) on digital transactions in the Philippines ...

In September 2021, the House of Representatives approved on third reading House Bill (HB) 8942 – the Ease of Paying Taxes Act. The bill proposed to amend the National Internal Revenue Code as amended (the Tax Code) and introduce administrative reforms that will simplify tax compliance and strengthen taxpayers' rights ...

Kudun and Partners | April 2022

The Thai cabinet has recently approved the draft Royal Decree issued under the Revenue Code regarding income tax exemption on investment in Thai startups (the “Draft Royal Decree”), in cases where the funding for the startups is provided directly or indirectly through Venture Capital (VC), Corporate Venture Capital (CVC), or private equity trust (PE Trust). This Draft Royal Decree aims to unlock  capital gains tax on investment in startups under the Royal Decree No ...

DFDL | April 2022

The Ministry of Finance of the Lao PDR has issued the Notification on the Implementation of the Tax Obligations of the E-Commerce and Digital Platform No. 0541/MOF, 24 February 2022 with the purpose to disseminate the Decree on Electronic Commerce No. 296/Gov, 12 April 2021 and the implementation of the tax obligations of the e-commerce and digital platform business operators in the Lao PDR. 1 ...

DFDL | April 2022

The below is a generic list of the key licenses, permits, declarations generally needed by a foreign investor (alone or in JV) to set up and operate a data center in Vietnam. This is not meant to address any specific situation and does not constitute a legal advice ...

DFDL | April 2022

Republic Act No. 11659 (“RA 11659”) or “An Act Amending Commonwealth Act No. 146 otherwise known as the Public Service Act” as amended, was signed into law by President Rodrigo Duterte on 21 March 2022. The amendment of the Public Service Act was made pursuant to the State’s policy of encouraging private enterprise and expanding the base of investment in the country, with the goal of providing efficient, reliable, and affordable services to all ...

DFDL | April 2022

Lao PDR is following the regional trend of taxing the activities of non-resident E-Commerce and digital platform service providers. In this client update, we provide the key features and our commentary on the Ministry of Finance’s Notification on the Implementation of the Tax Obligations of the E-Commerce and Digital Platform No. 0541/MOF, dated 24 February 2022 (“the Notification”) ...

Shearn Delamore & Co. | April 2022

Intellectual Property The Patent (Amendment) Act 2022 Comes into Force in Malaysia On 18 March 2022, the Patent (Amendment) Act 2022 [Act A1649] (“Amending Act”) came into force in Malaysia. This Amending Act brings about a significant revamp of the Patents Act 1983. However, there are several sections and paragraphs within the Amending Act that will only come into operation later ...

DFDL | April 2022

Myanmar will this month re-open for international flight arrivals after a two-year ban and will restart online visa applications, citing a significant decrease in COVID-19 infections across the country. The decision to resume foreign flights was made in line with the latest COVID-19 restrictions issued by the Ministry of Health under the State Administration Council (“SAC”) and was announced as a measure to support the Myanmar economy ...

DFDL | April 2022

The new Law on amending and supplementing a number of laws No. 03/2022/QH15 (the “New Law”) was passed by the National Assembly of Vietnam on 11 January 2022 and took effect from 1 March 2022. The New Law provides changes to nine current laws, which includes the Law on Electricity 28/2004/QH11, as amended from time to time (the “Law on Electricity 2004”) ...

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