Updates
Vietnam: Electronic labour contracts and related legal issues in Vietnam
- ADK Lawyers
Nowadays, when technology is developing rapidly, transactions are established through electronic methods are not too strange. Accordingly, Labour Code 2019 has initially recognized the legal validity of an electronic labour contract, however, in reality, there are not many labour contracts concluded in this form. While there are some benefits of the electronic labour contract, it also has several problems.
Vietnam: Legal Update on Vietnam’s Data Law
- Lexcomm Vietnam LLC
The Data Law is set to provide the fundamental principles, policies, and regulations governing digital data. It establishes the roles and responsibilities of various stakeholders, including government agencies, private organisations, and individuals. In this legal update, we will highlight some key provisions under the Data Law that, from our point of view, impact various stakeholders.
Vietnam: Changes in development mechanism of self-consumed rooftop solar power
- Lexcomm Vietnam LLC
This legal update analyses new opportunities for RTS power developers under Decree 135 through their services as contractors for power consumers, besides their role as power sellers in power generation and sale under the DPPA mechanism.
Vietnam: Recent VAT Developments in Vietnam
- Legal Centrix
The National Assembly of Vietnam has approved a new Law on Value Added Tax, which will take effect on July 1, 2025. Additionally, a resolution has been passed to extend the reduced VAT rate of 8% for the first half of 2025, covering the period from January 1 to June 30, 2025.
Myanmar: Significant Updates on Foreign Currency Tax Payments - New Procedures for Import/Export Taxes and Personal Income Tax in Myanmar
- DFDL Myanmar
In December 2024, the Ministry of Planning and Finance and the Internal Revenue Department introduced two significant updates concerning foreign currency tax payments. These updates pertain to the use of Market Trading Rate for Import/Export Customs Duties and Tax Payments starting 1 January 2025, and the tax payment currency for individuals receiving salaries in Myanmar Kyats (“MMK”) under foreign currency contracts.
Vietnam: New Amendments to Law on Investment
- DFDL Vietnam
On November 29, 2024, the National Assembly enacted the Law amending several articles of the Law on Planning, the Law on Investment, the Law on Investment under the Public-Private Partnership Model, and the Law on Bidding.
Vietnam: New Regulations on Environmental Protection Fees on Exhaust Gas Emissions have been Promulgated
- DFDL Vietnam
Decree No. 153/2024/ND-CP, which governs the environmental protection fees on exhaust gas emissions, was issued by the Government of Vietnam on November 21, 2024. This new regulation will take effect from January 5, 2025. Emission-discharging facilities in all parts of Vietnam will be impacted by this law.
Vietnam: Decree 180 On Reduction Of % Value-Added Tax In The First Half of 2025
- KPMG Law Limited
On 30 November 2024, the National Assembly has passed Resolution No. 174/2024/QH15, covering in which the provision on continuing to reduce the value-added tax rate by 2% for groups of goods and services specified in Resolution No. 43/2022/QH15 during the period from 1 January 2025 to 30 June 2025.
Vietnam: The board’s role within merger and acquisition goals
- Grant Thornton Vietnam
Vietnam’s M&A market recorded a deal value of $3.2 billion in the first nine months of 2024, representing less than 50 per cent of the total for 2023. However, it's too early to conclude a decline for the full year 2024. Compared to the same period in 2023, this figure marks a 45 per cent increase, signaling a potential for dealmakers to drive momentum in the fourth quarter.
Vietnam: Implementation Plan for the National Power Development Plan VIII of Vietnam
- Lexcomm Vietnam LLC
Following the issuance of the National Power Development Plan VIII (PDP8) on 15 May 2023, the Vietnam Prime Minister, on 01 April 2024, approved Decision No. 262/QD-TTg with immediate effect, laying down the Implementation Plan for the PDP8 (Implementation Plan). This is the first in the 2-plan proposal from MOIT to the Prime Minister for PDP8
Myanmar: The Role of Consumer Protection and Competition in Myanmar
- DFDL Myanmar
The introduction of the Competition Law in 2015 and the Consumer Protection Law in 2019, along with their supporting rules and notifications, has laid the foundation for a more structured and fair business environment. This article provides an analysis of the key developments in both laws and regulations.
Cambodia: Updated Tax on Transportation Means for 2025
- DFDL Cambodia
The Ministry of Economy and Finance issued Prakas 738, detailing the rules and procedures for collecting the tax on means of transportation, which will take effect from 1 January 2025. This new Prakas supersedes the earlier Prakas 531 issued in 2018.
Vietnam: More Requirements on Internet Service and Online Information
- DFDL Vietnam
The Government of Vietnam has officially issued Decree No. 147/2024/ND-CP on the management, provision, and use of internet services and online information. This new regulation, dated 9 November 2024, will take effect on 25 December 2024, replacing the earlier Decree No. 72/2013/ND-CP.
Vietnam: New Draft Law Aiming At Unifying Data Protection Legislations In Vietnam
- RHTLaw Vietnam
The draft Law on Personal Data Protection (PDPL) has been made available for public consultation, introducing a more thorough legal regime regulating the data collection and process by individuals and organizations throughout various industries such as marketing, advertisement, AI, banking, finance and insurance.
Philippines: Over 170 Infrastructure Projects in the Philippine Government’s PPP Procurement Pipeline
- DFDL Philippines
The PPP Center of the Philippines disclosed that a total of one hundred seventy-three (173) infrastructure projects with a total cost of Php 3.17 trillion (˜USD 56 billion), are and will be procured under Republic Act No. 11966, otherwise known as the “Public-Private Partnership (PPP) Code of the Philippines” (“PPP Code”). These projects cover national and local projects which are at various stages of development from conceptualization, evaluation, approval, all the way to procurement.
Vietnam: Proposed resolution for extending the 2% VAT Rate reduction for the first half of 2025
- PwC Legal Vietnam
On November 12, 2024, the Government issued Resolution 218/NQ-CP. Pursuant to the directives of Resolution 218/NQ-CP, the Ministry of Finance has prepared a draft Resolution proposing a 2% reduction in Value Added Tax (VAT) for the first half of 2025, which is to be submitted to the National Assembly during its 8th Session.
Vietnam: Import duty treatment of Vietnamese goods exported to bonded warehouses and re-imported into the domestic market
- PwC Legal Vietnam
On 24 October, the General Department of Customs issued official letter no. 5177/TCHQ-GSQL guiding provincial customs departments on the requirements for assessing special preferential import duty rates within the framework of Free Trade Agreements of which Vietnam is a member, for Vietnamese goods exported to bonded warehouses and then re-imported into the domestic market.
Vietnam: Simplifying Foreign and Domestic Investment in the Education Sector
- KPMG Law Limited
On 5 October, the Vietnamese Government, issued Decree 124/2024/ND-CP and Decree 125/2024/ND-CP. Effective from the 20 November 2024, these decrees bring significant updates to regulations governing both foreign and domestic investments in Vietnam's education sector.
Cambodia: Launch of the CDC Investment Project Management (cdcIPM) and other updates - November 2024
- RHTLaw Cambodia
In this update: Official Announcement No. 2336/24 on the Launch of the CDC Investment Project Management (cdcIPM), Notification dated 1 November 2024 on the Opening of KHR Bank Account for All Business Duly Registered in Cambodia, and Instruction No. 154/24 dated 01 November 2024 on the Reconciliation of Labour Dispute.
Registration for stock mortgage at the Vietnam securities depository and clearing corporation
- Apolat Legal
In the context of an increasingly advanced financial market, the mortgage of stocks by shareholders of joint-stock companies has become a crucial tool for capital raising and financial management. This article will examine the concept of stock mortgage and the regulations for registering mortgages of stocks at the Vietnam Securities Depository and Clearing Corporation.
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