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Cambodia: E-Commerce VAT Registration/Reverse Charge Implementation Date Extended
DFDL, January 2022

The General Department of Taxation (“GDT”) issued Notification no. 776 GDT on the 17th of January 2022 (“Notification 776”) which delays the implementation of Prakas 542 MEF.P on the Rules and Procedure for the Implementation of VAT on E-Commerce (“Prakas 542”) to 31 March 2022...

Kudun & Partners Joins Pride Partners International as the Exclusive Member for Thailand
Kudun and Partners, January 2022

We are pleased to announce that Kudun & Partners has joined the Pride Partners International (PPI) network as the exclusive member for Thailand. Pride Partners International (PPI) is a global association of transfer pricing and financial valuation consulting firms with a presence in most entrepreneurial markets around the globe...

Cambodia: NBC Ceases to Issue New Microfinance Deposit-Taking Institutions License
DFDL, January 2022

On 6 December 2021, the NBC issued a Notification No. B7-021-2083 on Cessation of Granting New Microfinance Deposit-Taking Institutions License. The NBC decided to cease granting of new license for microfinance deposit-taking institutions in order to further strengthen banks and financial institutions’ capacity, inspection, financial stability and contribution to national economic development...

Shearn Delamore & Co. Newsletter December 2021
Shearn Delamore & Co., January 2022

Employment Law An examination of the case ofTelekom Research andDevelopment Sdn Bhd v Ahmad Farid Bin Abdul Rahman by the Court of Appeal Introduction The Industrial Court had ruled that the company, Telekom Research and Development Sdn Bhd (“Telekom”), had proven the misconduct against a former employee, the claimant Ahmad Farid Bin Abdul Rahman (“Ahmad”), and that the dismissal was justified...

Shearn Delamore & Co. Legal Updates December 2021 (2)
Shearn Delamore & Co., January 2022

Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for December 2021...

Cambodia: New Prakas on Formalities of Certification Work of Architectural Design and Structural Design
DFDL, January 2022

The Ministry of Land Management, Urban Planning and Construction (“MLMUPC”) issued a new Prakas No. 109 on 22 November 2021 on the Formalities for Certification Work of Architectural Design and Structural Design (“Prakas 109”). The purpose of this Prakas 109 is to regulate the formalities of inspection and certification works in order to implement the Sub-Decree No...

Ministry of Finance's Press Release on Foreign Source Income and Stamp Duty on Contract Notes
Shearn Delamore & Co., January 2022

The Finance Bill 2021 has recently been passed in Parliament and gazetted on 31 December 2021 (“FA”). One of the FA amendments, which takes effect from 1 January 2022, is that only income arising from sources outside Malaysia and received in Malaysia by any person who is not tax-resident in Malaysia, would be tax exempt...

Tax Updates December 2021 (SyCipLaw Tax Issues and Practical Solutions (T.I.P.S.) International Edition Vol. 4)
SyCip Salazar Hernandez & Gatmaitan, January 2022

SyCipLaw’s Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the last quarter of 2021. Please read the full text at https://tinyurl.com/SyCipLaw-DecTIPS-Int-Vol4-2 or https://tinyurl.com/SyCipLaw-DecTIPS-Int-Vol4-3. The SyCipLaw T.I.P.S - International Edition covers the top 10 tax issues of 2021: March 2021 1...

Thai Cabinet Passes New Draft Resolution Easing Restrictions on Cross-Border Transactions and Commercial Activities
DFDL, December 2021

On 23 November 2021 The Thai Cabinet passed a resolution permitting the amendment of Ministerial Regulation No. 13 (the “Regulation”) under the Exchange Control Act (1942) which relaxes a lot of the rules on cross-border transactions, online activities and e-commerce matters. The amendments, among other things, includes: Allowing permitted persons (business operators) to accept foreign currency via sources other than bank notes (i.e...

Shearn Delamore & Co. Legal Updates December 2021 (1)
Shearn Delamore & Co., December 2021

Financial Services   Climate risk — progress of Joint Committee on Climate Change In a joint statement, Bank Negara Malaysia (“BNM”) and Securities Commission Malaysia announced on 10 December 2021 the following: the Joint Committee on Climate Change (“JC3”) will issue a Reference Guide on Climate Risk Management and Scenario Analysis, which sets out expectations for financial institutions to integrate climate-related risks considerations in finan

ALRC Releases Report Proposing Financial Services Legislation Reforms
MinterEllisonRuddWatts, December 2021

On 30 November 2021, the Australian Law Reform Commission (ALRC) released its first Interim Report (Report) containing its recommendations, proposals, and questions in relation to the reform of corporations and financial services legislation in Australia. The ALRC’s inquiry is part of the Australian Government’s response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission)...

FMA and DIA Issue Reminder About Outsourcing CDD to Third Parties
MinterEllisonRuddWatts, December 2021

The Financial Markets Authority (FMA) and the Department of Internal Affairs (DIA) have together released a guidancenote for reporting entities that rely on third-party agents to conduct anti-money laundering and countering financing of terrorism (AML/CFT) customer due diligence (CDD) processes on their behalf...

Kudun and Partners Represents BG Energy Solution Company Limited on its Project Refinancing of My Son 1 and My Son 2 for a Total Sum of VND 1.4 trillion from Vietcombank.
Kudun and Partners, December 2021

Kudun and Partners represented BG Energy Solution Company Limited, a subsidiary of BG Container Glass Public Company Limited (BGC) and Bangkok Glass Public Company Limited in a cross-border refinancing transaction in the form of a loan facility from Vietcombank for the sum of VND 760,625,000,000 for My Son 1 and 640,625,000.000 for My Son 2, totaling VND 1.4 trillion or approximately USD 61.6 million...

Kudun and Partners Represents T.R.V. Rubber Products Public Company Limited (TRV) on its IPO on MAI with a Market Capitalization of THB 483 Million.
Kudun and Partners, December 2021

Kudun and Partners represented T.R.V. Rubber Products Public Company Limited — one of the leaders in manufacturing and distributing of molded rubber products for automotive and electrical appliances — with respect to its initial public offering (IPO) on the Market for Alternative Investment (MAI), an alternative stock market for small and medium-sized enterprises, with a market capitalization of THB 483 million (approx. USD 14.31 million)...

Cambodia: VAT Registration Deadline Looms for Non-resident E-Commerce Providers
DFDL, December 2021

The General Department of Taxation (“GDT”) issued new Instruction No. 20522 (“VAT Instruction”) on 8 December 2021 which provides further clarity on the implementation of Sub-Decree 65 S.E and Prakas 542 MEF.P that were both issued earlier this year...

The Legal 500 Country Comparative Guides: Malaysian Chapter, International Arbitration
Shearn Delamore & Co., December 2021

Dear valued clients, colleagues and friends, Our Arbitration and Mediation partners Rabindra S. Nathan, Rodney Gomez and K. Shanti Mogan have co-authored the Malaysian chapter of The Legal 500 Country Comparative Guides: International Arbitration 2021.   The Arbitration Act 2005 (“AA 2005”) applies to arbitration in Malaysia...

Kudun and Partners Donates to New Life Orphanage in Kanchanaburi
Kudun and Partners, December 2021

On November 27, 2021, our partners, associates and staff visited the New Life Orphanage in Kanchanaburi Province and hosted lunch and dinner for children at the center. The New Life Orphanage is a center that supports and cares for more than 70 resident children, many of whom were abandoned by their parents at birth...

The Legal 500: Thailand Real Estate Country Comparative Guide 2021
Kudun and Partners, December 2021

The aim of this guide is to provide its readers with a pragmatic overview of the law and practice of real estate law in Thailand. This guide provides information about the current issues affecting real estate in Thailand and addresses topics such as ownership proof, due diligence, taxes, planning and zoning restrictions, mortgages and environmental contamination as well as insight and opinion on the most common issues in their respective country...

Kudun and Partners represents the Erawan Group PLC on its divestiture of Renaissance Koh Samui Resort and Spa and Ibis Samui Bophut Hotel for a total value of approximately THB 925 million
Kudun and Partners, December 2021

Kudun and Partners represented The Erawan Group Public Company Limited (SET:ERW), one of the most renowned and longest-standing SET-listed real estate developers in Thailand, on its divestiture of the Renaissance Koh Samui Resort and Spa and Ibis Samui Bophut Hotel to Infinity Hospitality Holding Company Limited and Infinity North Samui Co., Ltd...

The Legal 500: 5th Edition Real Estate Comparative Guide – Thailand
Kudun and Partners, December 2021

In collaboration with the Legal 500, we are once again selected as the exclusive contributor for the 5th edition of Thailand’s Real Estate Comparative Guide, published on December 2021...

Thailand’s ETDA Set to Release Far Reaching Royal Decree on Digital Processing Processors Ensnaring Foreign Companies Supplying Thai Consumers
DFDL, December 2021

On 25 October 2021, the Thai Cabinet approved in principle the national Electronic Transactions Development Agency’s (“ETDA”) release of its Royal Decree on Supervision of Digital Platform Services Required to be Notified (“DPRD”) under the auspices of the Electronic Transactions Act B.E. 2544 (2001). The Decree requires that the ETDA be notified by business operators intending to provide digital platform services to consumers in Thailand...

Chambers Global Practice Guide: Litigation 2022
Shearn Delamore & Co., December 2021

Dear valued clients, colleagues and friends, Our Dispute Resolution partners, Dhinesh Bhaskaran, Datin Jeyanthini Kannaperan, Rabindra S. Nathan and K. Shanti Mogan, have co-authored the Malaysian Law and Practice and Trends and Developments chapters in the Chambers Global Practice Guide: Litigation 2022...

Feedback Sought on Exposure Draft of Deposit Takers Bill Released
MinterEllisonRuddWatts, December 2021

On Tuesday this week, the Reserve Bank of New Zealand (RBNZ) released an exposure draft of the new Deposit Takers Bill for public consultation. The consultation is open until 21 February 2022. Further public consultation is expected on the funding framework which includes industry levies before the Depositor Compensation Scheme is implemented. Links to the exposure draft of the Bill and the RBNZ’s explanatory notes are availablehere...

FMA releases new AML/CFT Sector Risk Assessment
MinterEllisonRuddWatts, December 2021

Yesterday, the Financial Markets Authority (FMA) released a new report, the ‘Anti Money Laundering and Countering Financing of Terrorism Sector Risk Assessment 2021’ (Sector Risk Assessment). The Sector Risk Assessment evaluates the money laundering and terrorism financing(ML/TF) risks posed specifically to the sectors supervised by the FMA, and updates and replaces the Sector Risk Assessment previously issued in 2017...

An Overview of the Significant Changes Proposed by the Employment (Amendment) Bill 2021
Shearn Delamore & Co., December 2021

The Employment (Amendment) Bill 2021 (“the Bill”) was tabled for its first reading on 25 October 2021, seeking to amend the Employment Act 1955 (“the Act”). In this update, Vijayan Venugopal, Grace Chai and Nur Najehah set out the key changes that the Bill proposes to introduce and analyse the potential impact of such proposed amendments...

 

 

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