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Cambodia Tax & Real Estate Alert: 2019 Property Tax Deadline – 30 September
DFDL, September 2019

On the 21st of August 2019 Notification dated 21 August 2019 the General Department of Taxation (“GDT“) issued Notification 17517 GDT on the Second Reminder of the Payment of the Property Tax reminding owners of immovable property to file their annual Property Tax declaration before the deadline of 30 September 2019...

Vietnam Tax Update: New Law on Tax Administration – Key Takeaways
DFDL, September 2019

The new Law on Tax Administration No. 38/2019/QH14 (“LTA” or “new Law”) was passed by the National Assembly in June 2019 will become effective from 1 July 2020. New provisions relating to electronic invoices and electronic documents take effect from 1 July 2022. We summarize below some of the salient features of the new Law...

Cambodia Legal Update: New National Fire Safety Systems Code Launched in Cambodia
DFDL, September 2019

The Association of Fire Prevention Enterprises of Cambodia (“AFPE”) in conjunction with the National Quality Inspection Centre for fire Safety Systems (“NICS”) hosted a seminar on 9 September 2019 on the introduction of the National Standard Book on Fire Safety Systems – Building Design Code...

Cambodia Tax Update: Tax Treaty with Malaysia Signed
DFDL, September 2019

Cambodia has signed a Double Taxation Agreement (“DTA“) with Malaysia on the 3rd of September 2019 during the visit of Malaysian Prime Minister Tun Dr Mahathir Mohamad to Phnom Penh. Under the DTA, double taxation will be avoided in that any tax paid in Cambodia by Malaysian companies in accordance with the DTA will be allowed as a credit against the tax payable in Malaysia on the same income, subject to the provisions of the tax laws of Malaysia...

Cambodia Legal Update: 2020 Foreign Employee Quota Application Window to Open Shortly
DFDL, August 2019

By way of advance notice, please note that the window to apply for the 2020 foreign employee quota will open in September 2019.   Organizations employing or intending to employ foreign employees in 2020 are required to apply for a foreign employee quota from the Ministry of Labour and Vocational Training (“MLVT”)...

Vietnam Legal Update: New Solar FiT and Rooftop Solar Power Development Acceleration Program
DFDL, August 2019

NEW FiT FOR SOLAR ENERGY PROJECTS The Ministry of Industry and Trade of Vietnam (“MOIT”) announced it would submit by 15 September 2019 the final draft Decision of the Prime Minister, on the mechanism for encouraging the development of solar power projects in Vietnam, (the “Final Draft Decision”) to the Prime Minister and Office of Government. The Final Draft Decision is intended to replace Decision No...

5 Reasons Why Your Business Needs Accounting Services
BoardRoom Limited, August 2019

Accounting is one of the essential functions your business requires for robust financial management. However, many business owners still opt to handle their accounts in-house. This not only takes up their valuable time but also heightens the risk of compliance issues that could cost their business in the long run. 30% of Singapore start-ups fail within the first three years, and poor financial management is one of the principal causes...

Conventional Thinking
TSMP Law Corporation, August 2019

The Singapore Convention cements the Lion City’s reputation as a dispute resolution hub, making mediation easier to enforce globally. Clients who come to see me about commercial disputes often ask for the same thing: fast resolution. I tell them that there are two tried-and-tested ways to resolve financial claims. First, you can litigate in court and have a judge make a legal ruling on the dispute, in the full gaze of the public...

Scope of Enquiry by the Court as to Existence of an Arbitration Agreement at the Pre-Arbital Stage: An Indian Arbitration Law Perspective
Kochhar & Co. Advocates & Legal Consultants, July 2019

BACKGROUND   In the past few years, the Indian Government has realised that its justice delivery system especially in respect of commercial disputes needs to keep pace with India’s economic growth. Though the Indian Arbitration and Conciliation Act, 1996 (“Act”) is based on the UNCITRAL principles, judicial decisions had virtually obliterated the original intent of the Act and gravely undermined its avowed objective of expeditious dispute resolution...

Time to Take Another Bite of S-chips
TSMP Law Corporation, July 2019

Numerous corporate governance scandals over the past 15 years involving S-chips have tarred these mainland-operating, Singapore-listed companies with the same brush. But do all S-chips deserve their bad reputation?It was meant to be one of the Singapore Exchange’s (SGX) success stories. One of our biggest skincare companies, Best World International saw its profits grow almost 40 fold between 2013 and 2017. It was valued at S$1.8 billion at its peak in February 2019...

5 Accounting Services Your Business Needs In Singapore (And Why)
BoardRoom Limited, June 2019

The accounting/finance function forms the backbone of any firm, SME or MNC. However, there are so many types of accounting services to beaware of that it is worthwhile engaging an accounting professional.They are trained, organised, accurate and competent, giving you more time to focus on your business and reach greater heights. If you are looking to outsource your accounting, there are 5 essential services the firm will need to deliver...

How to Choose the Right Payroll Provider for your Business
BoardRoom Limited, June 2019

When it comes to ensuring that every employee gets paid on time, many companies choose to outsource this payroll responsibility to professional firms...

6 Key Reasons To Outsource Your Company Payroll
BoardRoom Limited, June 2019

When it comes to running your business, time and resources are best dedicated to core functions that help generate profit and meet the expectations of your customers. The last thing you want to worry about is your payroll! Administrative tasks such as payroll are non-core activities that are time-consuming and can get more complicated as your organisation grows...

Fake Meat Good, Fake News Bad
TSMP Law Corporation, June 2019

For businesses who care about their brands, Pofma may be not be such a bad idea after all.Beyond Meat Inc. makes cows happy and cardiologists sad. Its Beyond Burger uses no meat and has no cholesterol, and contains less fat, fewer calories and more protein than a typical burger...

What the Dickens is Up With Audit Firms?
TSMP Law Corporation, May 2019

It was the age of wisdom, it was the age of incredulity. Blazing yellow sun. Lapping blue waves. Tanned beach bods and a palm tree’s silhouette swaying against an orange sky. Once ubiquitous, the California Fitness logo that hints at its fabulous lifestyle offering has vanished from Singapore. In its heyday “Cali”, as its legions of fans called it, was not merely a gym, it was a status symbol...

The SGX and the New Capital Market
TSMP Law Corporation, April 2019

We bemoan the lacklustre stock exchange and complain that the government isn’t doing enough. We point to greener trading pastures in Hong Kong. Is it time to re-look at the role of the stock market and how we benchmark ourselves?This February,Bloombergpublished an article headlined The Incredible Shrinking Singapore Stock Market, which stated that overthe past five years, more companies had exited than joined the SGX, leading the bourse to suffer a net outflow of S$19...

Single Economic Entity and Corporate Separatedness Doctrine: A Juxtaposition
Kochhar & Co. Advocates & Legal Consultants, April 2019

The law governing companies globally, and in India, recognises a company to be a personality, distinct from its shareholders. In the celebrated case of Salomon v Salomon & Co. Ltd[1]., Lord Halsbury LC, had stated:“[A] company must be treated like any other independent person with its rights and liabilities [legally] appropriate to itself … whatever may have been the ideas or schemes of those who brought it into existence.”1...

Article on India Employment Laws - Special Allowances Under the Employees Provident Fund (EPF) Act Need to be Special
Kochhar & Co. Advocates & Legal Consultants, March 2019

Special allowances under the EPF Act need to be special On February 28, 2019, the Supreme Court of India passed a landmark order on whether special allowances fall within the scope and meaning of “basic wages” under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (the “EPF Act”)...

Big Data Bad Brother
TSMP Law Corporation, March 2019

Corporations and governments are ferreting out and squirreling away voluminous, detailed and private information about each and every one of us – and they are not afraid to use it. Should we be worried? Singapore’s Health Minister recently revealed that confidential details of 14,200 HIV-positive people, stolen from a government public health database, had been leaked online by a disgruntled US citizen who had been in a romantic relationship with a local doctor...

Bank Indonesia Issues a New Regulation on the Reporting of Foreign Exchange Flow Activities
Makarim & Taira S., March 2019

Bank Indonesia (“BI”) recently issued Regulation No. 21/2/PBI/2019 on theReporting of Foreign Exchange Flow Activities (Kegiatan Lalu Lintas Devisa)(“Reg. 21/2”) on 7 January 2019, which came into effect on 1 March 2019. Reg. 21/2 partially revokes BI Regulation No...

Mandatory Deposit of Foreign Exchange Export Proceeds Deriving from Natural Resources
Makarim & Taira S., February 2019

On 10 January 2019, the Indonesian Government enacted GovernmentRegulation No. 1 of 2019 on Export Proceeds from the Exploitation,Management, and/or Processing of Natural Resources (“GR 1/2019”)...

Copyright: An Upgrade is Available
TSMP Law Corporation, February 2019

From re-sharing cat videos to creating memes, tweaks in our three-decade-old Copyright Act will help clarify what’s permissible and what’s verboten as we continue to indulge in our insatiable appetite for social media. Chinese New Year Eve, 2019. Social media was ablaze with a viral video (YouTube link) of an altercation between a Malay Gojek driver and his Chinese passenger objecting to a route that would incur ERP charges...

New Regulation on Owners and Occupants Association
Makarim & Taira S., February 2019

On 14 September 2018 the Ministry of Public Works and Public Housing of the Republic of Indonesia introduced Regulation of the Ministry of Public Works and Public Housing of the Republic of Indonesia Number 23/PRT/M/2018 on the Owners and Occupants’ Association of Multistoried Dwelling Units (“Regulation 23”)...

Doggone It!
TSMP Law Corporation, February 2019

Pet owners do not get damages at law for the wrongful death of their pets, even when caused by fraudulent and unscrupulous profiteers. Should they? For many affluent “parents” of “furkids”, it is a familiar routine come Christmas or any other holiday season: stopping by at an expensive boarding facility on the way to the airport to drop off their precious pets, rather than leaving the cute critters home alone...

The Implications of the Move from GST to SST
Shearn Delamore & Co., January 2019

IN THIS ARTICLE, ABHILAASH SUBRAMANIAM DISCUSSES THE POTENTIAL IMPLICATIONS OF THE MOVE FROM GST TO SST.   Introduction The much anticipated Sales Tax Act 2018 and the Service Tax Act 2018(commonly referred to as “SST”) was rolled out on 1 September 2018, together with their respective subsidiary legislations, to replace the previous Goods and Services Tax Act 2014 (“GST”)...

Sustainable Financing in the ASEAN Region
Shearn Delamore & Co., January 2019

IN THIS ARTICLE, GOH HUI WEN LOOKS AT GREEN AND SUSTAINABLE INVESTMENTS IN THE ASEAN REGION. The investment scene in the ASEAN region has been undergoing a transformational change in recent years as it pivots towards a green and sustainable path of development[1]. Demand for sustainable investment opportunities in ASEAN is set to bloom within the next two decades, with the investment opportunity estimated to be worth a whopping USD3 trillion from 2016 to 2030[2]...

Enhancing Investor Protection via Framework for Registration of Trustees and Issuing Houses
Shearn Delamore & Co., January 2019

In this article, Tan Wei Xian analyses the new guidelines on registration and conduct of trustees and issuing houses...

Discretion of the Minister: To Exercise or Otherwise
Shearn Delamore & Co., January 2019

IN THIS ARTICLE, BENEDICT NGOH TI YANG EXAMINES THE POWERS OF AUTOMATIC REFERRALS OF THE MINISTER OF HUMAN RESOURCES UNDER SECTION 20 OF THE INDUSTRIAL RELATIONS ACT 1967.   Introduction A workman[1] who is dismissed may seek recourse at the Industrial Court against the employer. The power to refer the workman’s claim to the Industrial Court lies with the Minister of Human Resources of Malaysia (“Minister”)...

Can the Defence of Qualified Privilege be Invoked without Verification of Information Relied On?
Shearn Delamore & Co., January 2019

To raise the Reynolds privilege established in the landmark English House of Lords decision in Reynolds v Times Newspaper Ltd[1] in a defamation claim, a defendant is required to establish that the matter was one of public interest and that the defendant practised “responsible journalism” in publishing the impugned words...

Are Prayer Outfits Eligible for Copyright Protection?
Shearn Delamore & Co., January 2019

Some may be wondering what a “telekung” is as it is probably not a common term. A Telekung is a Muslim prayer outfit for females. The general perception of prayer outfits is that they are dull and unfashionable as they have to be modest rather than trendy. However, there has been a drastic shift in the fashion industry in recent years where there are an increasing number of fashionable yet modest clothes in both local and international markets...

The New Incentive for Whistleblowers for Revealing Crimes of Corruption?
Makarim & Taira S., January 2019

To date, the Indonesian government and institutions have largely remained entrenched in an endemic culture of corruption. Despite major victories before the court by the Corruption Eradication Commission (“KPK”) in recent years, crimes of corruption (especially bribery and gratification) remain a major problem at every level of government institution...

Indonesian Equity Crowdfunding Regulation
Makarim & Taira S., January 2019

The Financial Services Authority (“OJK”) recently issued OJK Regulation No 37/POJK 04/2018 on equity crowdfunding services.  This will allow offers of shares for sale by an issuer directly to investors through an open information technology system (“POJK37/2018”). POJK 37/2018 applies to offers of shares through a Crowdfunding ServicesProvider’s system...

Hong Kong Court Orders Director to Personally Pay Litigation Costs
Deacons, January 2019

It appears that Big Island Construction (HK) Limited (BIC) and Wu Yi have had a long drawn out battle since 2005, with numerous judgments reported, starting from the District Court and going all the way up to  the Court of Final Appeal...

Conviction for Failing to Keep Significant Controllers Register on the Increase
Deacons, January 2019

In the beginging of 2019, the Companies Registry announced that twelve Hong Kong companies were prosecuted for failing to keep the significant controllers register at their registered offices. The result of this prosecution led to the companies being fined...

Arming the Silent Minority
TSMP Law Corporation, January 2019

Minority shareholders – often forced to silently accept the rule of the majority – should be given a voice. In May last year, Jerry Low, a minority investor in Asiatic Group (Holdings), wrote an open letter to the management highlighting concerns regarding the SGX-listed company’s poor performance, juxtaposing this against the high remuneration enjoyed by its senior management team...

Intellectual Property Holding Companies and their Benefits
Kochhar & Co. Advocates & Legal Consultants, December 2018

Most companies go to great lengths to protect and maintain their intellectual property (IP). These companies recognize the value of their IP and work towards its development, sustainability and commercialization. IP strategy customary includes where and when to file patent applications, how to choose a brand name and register it, how to protect and enforce copyrights, protect trade secrets, etc...

China Encourages Share Repurchase by Revising the Company Law
Deacons, December 2018

On 26 October 2018, the Standing Committee of the National People's Congress approved a decision to revise the Company Law of the People’s Republic of China (Revision), with the aim of supplementing and improving the existing share repurchase regime. We have set out a brief introduction to this Revision below. Background It has only been five years since the last revision to the Company Law of the People’s Republic of China (Company Law)...

Broader Protection from Discrimination and Harassment on The Horizon
Deacons, December 2018

The Discrimination Legislation (Miscellaneous Amendments) Bill 2018 (Bill) was gazetted on 30 November 2018...

Hong Kong Court Holds That Claim in Tort Was Not Affected by Arbitration Clause
Deacons, December 2018

“Arbitration agreement” is defined under section 19 of the Arbitration Ordinance (Cap 609) as an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not. Disputes submitted to arbitration may involve contractual claims and non-contractual claims, such as tortious claims...

A Case of Foot in Mouth Disease
TSMP Law Corporation, December 2018

Whether you are a business pushing out an edgy ad campaign, or one with an unsolicited media crisis on your hands, in the age of the Internet you are just keystrokes away from things going “viral”. It is important to be prepared. Like many bad ideas, it started innocuously enough. In late November, Dolce & Gabbana uploaded a series of videos on its social media platforms that starred a young Chinese woman wearing a red sequin dress...

A Future-Ready Justice System for Singapore
TSMP Law Corporation, November 2018

While the motivation behind the Civil Justice Commission’s consultation paper – aimed at enhancing the Court system – is laudable, the proposed introduction of litigation scale costs may hurt Singapore’s standing as a global litigation hub. In 2015, the Chief Justice established the Civil Justice Commission (CJC) to review Singapore’s civil justice system, with the goal of transforming and modernising the litigation process...

The Battle Between The Taxi Industry and The e-Hailing Operators
Shearn Delamore & Co., November 2018

The introduction of the e-hailing system had changed the landscape of public transport in Malaysia and, at the same time, intensified the competition in the taxi industry. Whilst the taxi industry was subject to specific regulatory requirements there was previously no express law to regulate the operation of the e-hailing system...

Breach of Natural Justice Under the Construction Industry Payment and Adjudication - Malaysia
Shearn Delamore & Co., November 2018

The Construction Industry Payment and Adjudication Act 2012 (“Act”) was introduced to address cash flow issues affecting contractors in the construction industry as a result of delays and/or lengthy periods of payment under construction contracts. Under the Act, an unpaid party [1] is entitled to initiate an adjudication proceeding in order to claim any amounts due and/or owing to them under a construction contract...

Inland Revenue Board Issues Updated Tax Investigation Framework in 2018 - Malaysia
Shearn Delamore & Co., November 2018

  “Tax investigation” entails an examination of a taxpayer’s business books, records, and documents as well as his personal documents to ensure that the correct amount of income is reported and tax is calculated as well as paid by the taxpayer...

The Importance of Registering A Franchise With the Registrar of Franchises - Malaysia
Shearn Delamore & Co., November 2018

This case highlights the importance of registering a franchise with the Registrar of Franchises and the consequences of not doing so. In particular, the effect and applicability of section 6(1) of the Franchise Act 1998 (“FA 1998”) are discussed. Facts The subject matter was “Dr. Fong’s Method” of teaching mathematics to students in primary and secondary school, which was developed by Dr. Fong Ho Kheong (“Dr. Fong”). Dr...

The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 - Malaysia
Shearn Delamore & Co., November 2018

The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 “Amendment Act”. The Act amended the Valuers, Appraisers and Estate Agents Act 1981 “Principal Act”.  The Amendment Act Prior to coming into force of the Amendment Act, only a registered valuer, appraiser or estate agent duly authorized by the Board of Valuers, Appraisers and Estate Agents (as it was then known) was permitted to undertake property management...

Disasters – Natural and Man-made
TSMP Law Corporation, November 2018

Companies wanting to do good through corporate social responsibility (CSR) initiatives face a quandary: how to ensure their aid is going where it is needed most. [Editor’s note: Last month, our firm was honoured to have won the President’s Volunteerism and Philanthropy Awards (PVPA) in the Small and Medium Enterprises category...

Insider Dealing - Deal or No Deal
Deacons, November 2018

In the Court of Appeal (CA) decision of Securities and Futures Commission v Cheng Chak Ngok (CACV 95/2017; [2018] HKCA 590), the less disputed element of insider dealing, namely the element of “dealing” was at issue. As there was no direct evidence showing the dealing in this case, the issue was whether the circumstantial evidence was sufficient to draw inferences that there was in fact dealing in the relevant shares...

China Passes New E-Commerce Law - A "Safe Harbour" With Chinese Characteristics
Deacons, November 2018

In less than a decade, China has become the largest e-commerce market in the world, accounting for over 40% of global e-commerce according to a recent report by McKinsey. The breath-taking speed of development has left law makers scrambling to regulate the booming e-commerce industry...

Korean Tax Reform: Opportunities and Challenges for Foreign Companies and Investors
Lee & Ko, November 2018

The Korean Ministry of Strategy and Finance (‘‘MOSF’’) has finalized the changes to the Presidential Decree of Korean tax laws (‘‘2018 PD Amendments’’) which will be of particular interest to foreign companies with business and foreign nationals residing in Korea...

 

 

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