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Cambodia: Additional Measures to Support Private Sector Workers & Revive the Post-COVID-19 Economy (Round 10)
DFDL, November 2021

On 28 October 2021, the Royal Government of Cambodia (“RGC”) implemented ‘Round 10’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. In readiness for the economy re-opening Cambodia has been receiving vaccines through support and direct purchases from various manufacturers...

Drones Regulatory Framework in Bangladesh – Top 5 Key Q&As
DFDL, November 2021

The use of drones in the world is increasing very rapidly and plays an important role in optimizing processes across a various range of industries: agriculture, delivery services, infrastructure, mapping, military and so on. These machines are very efficient, effective, and safe tools for quality, safety and savings...

Cambodia: Amendment of the Labour Law
DFDL, October 2021

The 1997 Labour Law, previously amended in 2007 and 2018, was amended for the third time on 5 October 2021 with immediate effect (“Amended Labour Law”). The Amended Labour Law introduces several changes to the 1997 Labour Law, particularly provisions relating to employee working schedules, work on paid public holidays, individual disputes and the authority of the Labour Inspector...

Thailand: AMLO Notification Calls for Stringent Customer ID Measures and KYC Procedures from 25 September 2021 Onward
DFDL, October 2021

28 January 2021 saw the release of a Notification Concerning Guidelines for the Identification and Verification of Customers and Ultimate Beneficial Owners (“AMLO Notification”) by the Anti-Money Laundering Office (“AMLO”)...

Arbitration: the More Business Savvy, Practical International Bedfellow of Litigation in Thailand
DFDL, October 2021

Article by Anne Coulon, Regional Legal Adviser, DFDL Thailand A stable, autonomous judiciary naturally commands the trust of a nation’s citizenry while inspiring confidence and peace-of-mind among foreign actors: this is crucial in terms of their investments and commercial activities, that they will receive fair and equal treatment whenever certain dealings come into dispute when doing business in the host country...

Cambodia: Promulgation of the Law on Investment
DFDL, October 2021

Overview On 15 October 2021, the New Law on Investment (“New Investment Law”) was promulgated, which aims to provide a comprehensive, transparent and predictable legal framework to attract both domestic and foreign investment. The New Investment Law replaces the existing 1994 Law on Investment and the 2003 Law on the Amendment to the Law on Investment (“Former Investment Law”) from its promulgation date (15 October 2021)...

Philippines: NPC Warns the Public Against Smishing
DFDL, October 2021

The National Privacy Commission (“NPC”) issued on 7 October 2021 NPC PHE Bulletin No. 21 advising the public against smishing and preventive data privacy practices. Smishing targets victims through mobile text messaging or SMS. Individuals usually receive unsolicited messages that include links that redirect to fraudulent websites which steal personal data, introduce mobile malware, and even facilitate the commission of fraud...

Philippines: Taxing Philippine Offshore Gaming Operations
DFDL, October 2021

Republic Act (“RA”) No. 11590 amends the National Internal Revenue Code (“NIRC” or the “Tax Code”) to provide the taxing rules for offshore gaming operations. Taxation of Offshore Gaming Licensees Under RA No...

Philippines: Final Extension of Deadline for Compliance with The Guidelines on Digitalization of Customer Records
DFDL, October 2021

On 05 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Circular Letter (“CL”) No. 2021-72, disseminating to all BSP-Supervised Financial Institutions (“BSFIs”) the AMLC Regulatory Issuance (“ARI”) No. 6-2021 on the final extension of the deadline for compliance with the Guidelines on Digitalization of Customer Records (“DIGICUR”). ARI No...

Thailand: Foreign Investment Promotion Permitting Wealthy Foreigners to Buy Land and Houses
DFDL, October 2021

On 14 September 2021, the Thai cabinet passed a resolution (“Cabinet Resolution”) proposed by the Centre for Economic Situation Administration (“CESA”) to incentivize foreign investment in Thailand through the issuance of new visa, tax, and foreign land ownership incentives. The CESA particularly aims to attract high net worth foreign nationals, who wish to invest in land and buildings, and who can meet these minimum qualifications: 1...

Cambodia: Competition Law Enacted
DFDL, October 2021

Cambodia’s long-awaited Competition Law (“Law”) was signed into law by the King on 5 October 2021. While the Law has been enacted, the principal regulator, the Cambodia Competition Commission (“CCC”) has not yet been appointed and it is not clear how the Law will be enforced prior to a) such appointment and b) the issue of required regulatory instruments and decisions...

Cambodia: Increase in Minimum Wage for 2022 – Garment, Textile, Footwear, Travel Product & Bag Sectors
DFDL, October 2021

On 28 September 2021, the Ministry of Labour and Vocational Training (“MLVT”) issued Prakas 264 on the Determination of Minimum Wage for Workers in the Garment, Textile, Footwear, Travel Product and Bag Sectors (“Prakas 264”), to set new minimum wage for 2022, which will be effective from 1 January 2022. Under Prakas 264, workers in the relevant sectors will be entitled to the following new minimum wage: For regular workers, USD 194 per month...

Thailand: Overseas E-Commerce or Online Platforms Must Now Pay VAT on Services Supplied to Consumers in Thailand
DFDL, October 2021

On 10 February 2021, the Royal Thai Government Gazette announced the Act Amending Revenue Code No.53 (the “Act”). This Act stipulates that overseas electronic service providers and online platforms must now register for and pay VAT on electronic services, delivered over the internet or other electronic networks (“Electronic Services”) supplied to non-VAT registered consumers in Thailand. This VAT applies to such transactions from 1 September 2021 onward...

Cambodia: 2022 Foreign Employee Quota Application Window Now Open
DFDL, September 2021

The window to apply for the 2022 foreign employee quota is open until the end of November 2021. Enterprises employing or intending to employ foreign employees in 2022 are required to apply for a foreign employee quota from the Ministry of Labour and Vocational Training (“MLVT”)...

Cambodia: 2021 Property Tax Deadline Extended 
DFDL, September 2021

Following our recent update on the due date of 30 September 2021 for the declaration and payment of the 2021 Immovable Property Tax (“TOIP“) and Unused Land Tax we would like to inform our readers that on the 28th of September 2021 the General Department of Taxation (“GDT“) issued Notification 16160 which has provided an extension on the deadline of the declaration and payment tax of TOIP for 2021 until 31 October 2021...

Cambodia: New Prakas on VAT for E-Commerce
DFDL, September 2021

Key points From 8 September 2021 non-resident entities who provide digital goods/services or e-commerce activities to Cambodian consumers and who expect to have sales of USD15k or more before the end of the year, over three consecutive months, have 30 days to register for VAT with the General Department of Taxation (GDT) in Cambodia. From 2022 onward the same non-resident entities, as described above, that expect to have sales of USD62...

[Infographic] Real Estate Restructuring & Insolvency – Thailand
DFDL, September 2021

Another wave of COVID-19 has spread across Thailand and is raising understandable concerns and generating uncertainty among the business community. This series of infographics will guide you on the key measures and best practices to help you mitigate the effects of the COVID-19 pandemic on your business...

Vietnam: Report on Economic Concentrations
DFDL, September 2021

The Vietnam Competition and Consumer Authority recently published a report on Economic Concentration Control for the period July 2019- July 2021 which is available in Vietnamese and English on its website. Some highlights of the report are as follows: The total value of economic concentrations in Vietnam in 2019 was USD 7.2 billion which was approximately 94.7% of 2018’s total value; in contrast, the total value of economic concentrations in Vietnam in 2020 was only USD 3...

[Infographic] Digital Assets in Thailand – Quick Guide
DFDL, September 2021

COVID-19 has thrust the world into recession and its rippling effects have given rise to rapid and accelerating changes. Many businesses have moved or expanded into online channels as we collectively begin to embrace and advance headlong into an increasingly digitalized society...

[Infographic] Crowdfunding in Thailand – Quick Guide
DFDL, September 2021

COVID-19 has thrust the world into recession and its rippling effects have given rise to rapid and accelerating changes. Many businesses have moved or expanded into online channels as we collectively begin to embrace and advance headlong into an increasingly digitalized society...

Cambodia: 2021 Property Tax Deadline – 30 September
DFDL, September 2021

We would like to take this opportunity to remind our readers that the immovable property tax (“TOIP”) and Unused Land Tax deadlines for 2021 are fast approaching next Thursday (the 30th) of September 2021. The 2021 TOIP and Unused Land Tax payment can be submitted at any tax branch or any branches of the following banks: Canadia, ACLEDA, Vattanac, Cambodia Public Bank or ABA Bank...

Cambodia: Two New Prakas Now in Force – Tax on Salary and VAT on E-Commerce
DFDL, September 2021

On 8 September 2021 the Ministry of the Economy and Finance (“MEF”) issued Prakas 543 on Tax on Salary (“Prakas 543”) and Prakas 542 on the Rules and Procedures concerning the Implementation of Value Added Tax on E-Commerce Activities (“Prakas 542”)...

[Infographic] Peer-to-Peer Lending in Thailand – Quick Guide
DFDL, September 2021

COVID-19 has thrust the world into recession and its rippling effects have given rise to rapid and accelerating changes. Many businesses have moved or expanded into online channels as we collectively begin to embrace and advance headlong into an increasingly digitalized society...

[Infographic] Debt Restructuring Quick Guide – Thailand
DFDL, September 2021

Another wave of COVID-19 has spread all over Thailand and is raising understandable concerns and generating uncertainty among the business community. With this series of infographics, we take this opportunity to guide you on the key measures and best practices to help you mitigate the effects of the COVID-19 pandemic on your business. Today, we guide you through the debt restructuring options available in Thailand for local or foreign investors...

[Infographic] Key Considerations Before Undergoing Debt Structuring – Thailand
DFDL, September 2021

Another wave of COVID-19 has spread all over Thailand and is raising understandable concerns and generating uncertainty among the business community. With this series of infographics, we take this opportunity to guide you on the key measures and best practices to help you mitigate the effects of the COVID-19 pandemic on your business...

 

 

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