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Vietnam Legal Updates - Vol. 39: Draft on peer-to-peer lending trial

In this update: 1) Draft on peer-to-peer lending trial, 2) Reduction of environmental protection tax rates for petrol, oil and grease, and 3) Increase the number of overtime working hours in the context of Covid-19 pandemic. prevention and control

Circular 24/2022 amending Circular 48/2019 regarding making provisions

On 7 April, the Ministry of Finance issued Circular 24/2022/TT-BTC amending Circular 48/2019 regarding the provision for devaluation in investment in government bonds, municipal bonds and government-guaranteed bonds. Circular 24/2022 takes effect from 25 May 2022.

Myanmar: Deadline Nears for Companies and Non-profits to Register for Tax ID Number

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 with the Internal Revenue Department.

Toksave - Allens PNG Regulatory Update - April 2022

This update covers: 1) Strata Title Ownership Scheme passed, 2) Moratorium on Voluntary Carbon Market Projects, and 3) Electricity Regulatory Contract Review – commencement of the review process

Vietnam Weekly Update - 15 April 2022

Cập Nhật Hàng Tuần Việt Nam - 15 Thang 04 2022

In this week’s legal update: 1) Overtime hours in 01 year, in 01 month of employees in the context of COVID-19 epidemic prevention and control, socio-economic recovery and development; and 2) New guidance on VAT.

Vietnam Customs and Global Trade Update | March 2022

In this update: Proposed amendments on the Law on Export and Import Duty, Guidance on exchanging data from surveillance cameras between Export Processing Enterprise (EPE) and the customs authorities, Amending regulations on the special preferential export tariff and the special preferential import tariff to implement the CPTPP, Implementation under the Vietnam - UK Free Trade Agreement (UKVFTA), and others.

Debt Collection in Myanmar

COVID and the recent change in the government have added further concerns to the political state of Myanmar. We have seen foreign investors and suppliers face difficulty in recovering debts in Myanmar. This Alert sets out actions to consider towards recovering debts from a Myanmar company.

EY Vietnam Tax Alert | Restore immigration policies before COVID-19

In this Tax Alert: 1) Retrievement of the immigration policies for foreign travelers same as before applying COVID-19 control measures, 2) Unfreezing visa bilateral and unilateral Vietnam visa exemption, and 3) No quarantine requirements for entry persons who are negative to COVID-19.

New Regulations on the Taxation of Non-Resident E-Commerce and Digital Platform Service Providers

Lao PDR is following the regional trend of taxing the activities of non-resident E-Commerce and digital platform service providers. This update provides 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.

Thai PDPA Compliance: Key International Players and Global Platform Service Providers

After nearly two decades in the making, the Personal Data Protection Act was published on May 27, 2019. Ostensibly inspired by the EU General Data Protection Regulation, the PDPA was slated to go fully effective in June 2022 following a two-year delay due to COVID-19 outbreak.

Foreign Investment in Data Center Business in Vietnam

This alert lists 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.

Thailand’s Personal Data Protection Act (PDPA) – Data Protection Officer (DPO) in Short

In this Thailand infographic, we outline briefly the role of a Data Protection Officer (“DPO”) and why certain businesses may require to hire one.

Philippines Amends Public Service Act, Limits the Definition of “Public Utility” and Lifts Foreign Equity Restrictions on Various Industries

The Act amending the "Public Service Act” was signed into law on 21 March 2022, and encourages private enterprise and expands the base of investment in the country, with the goal of providing efficient, reliable, and affordable services to all.

Vietnam: Changes to the Law on Electricity

The new Law on amending and supplementing No. 03/2022/QH15 took effect on 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.

Cambodia: VAT Registration Deadline for Non-Resident E-Commerce Providers is 31 March 2022

The 31st of March is the deadline for non-resident e-commerce providers to register for value-added tax (“VAT”) in Cambodia. This update discusses some important points that non-resident e-commerce providers should consider in determining whether the VAT registration deadline applies to them.

Cambodia: Incentives for Voluntary Disclosures

The introduction of Prakas 217 MEF.P (“Prakas 217”), which was issued by the Ministry of Economy and Finance in March 2022, provides incentives to taxpayers who wish to make voluntary declarations with the GDT.

Vietnam: Can a foreign company retain a Vietnamese person as a service provider, not an employee?

Vietnamese law has no clear-cut distinction between an employment relationship and a commercial relationship, service agreement, thus individuals can be service providers.

Vietnam Updates From ADK - Vol. 38: Contractor shall purchase compulsory insurance for civil liability for third parties

In this update: 1) Guideline on Covid-19 prevention and control associated with entrants, 2) Visa waiver for citizens of 13 countries, and 3) A contractor shall purchase compulsory insurance for civil liability for third parties.

Use of digital signatures in e-financial transactions

Digital signatures have become an essential part of the digitisation strategy of the banking sector in Vietnam. Even though the legality of digital signatures has been recognised by Vietnamese law, some risks and obstacles still undermine their use.

Vietnam Weekly Update - 25 March 2022

Cập Nhật Hàng Tuần Việt Nam - 25 Thang 03 2022

In this update: 1) Amending, supplementing several regulations on compulsory insurance in construction investment activities, 2) Visa waiver for the foreign nationals; and 3) Summary of articles published in March 2022.