With the 2022 year well under way most enterprises in Cambodia are turning their attention to their annual compliance obligations. There have been some recent changes and updates with respect to the annual compliance obligations for most enterprises in Cambodia. We have included the recent changes in our summary below ...
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 ...
The Royal Government of Cambodia has issued the Sub-Decree on Requirements and Procedures for Business Combinations dated 6 March 2023 (“Merger Sub-Decree”). The Merger Sub-Decree elaborates on the prohibition on anti-competitive business combinations set out in Article 11 of the Law on Competition. The Merger Sub-Decree was officially implemented on its signature date (of 6 March 2023) and will be enforced within 6 months of that date ...
On 29 June 2021, the Royal Government of Cambodia (“RGC”) implemented ‘Round 9’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. The RGC noted that COVID-19 situation continues to evolve alarmingly with the recent mutation of the virus, which has added socio-economic pressures to many countries around the world ...
On 23 December 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 7’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. The RGC in their press release noted the positive update with respect to the development of a COVID-19 vaccine and the fact that Cambodia has to date managed to effectively control COVID-19 ...
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 ...
On 30 September 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 6’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. These represent a combination of new and existing measures (that have been extended) ...
The window to apply for the 2023 foreign employee quota is open until the end of November 2022. Enterprises employing or intending to employ foreign employees in 2023 are required to apply for a foreign employee quota from the Ministry of Labour and Vocational Training (“MLVT”) ...
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”) ...
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 ...
In response to the impact of COVID-19 and the partial withdrawal of EBA benefits – see our update here – the Cambodian government have issued a number of regulations which are intended to provide some relief to affected businesses in Cambodia. We outline these updates below: Letter 1313 MEF – dated 25 February 2020 Notification no ...
Law on the Management of Commercial Gambling, Royal Kram NS/RKM/1120/031 dated 14 November 2020 Overview On 14 November 2020, the Law on the Management of Commercial Gambling (“Gambling Law”), the first comprehensive legislation to regulate casinos and commercial gambling centers in Cambodia, was promulgated ...
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 ...
Key Takeaways Rooftop solar (“RTS”) power installations are permissible, based on two categories: Category 1 – RTS systems not synchronized with the national power grid; or Category 2 – RTS systems synchronized with the national power grid. An annual quota for Category 2 permits will be set. Compensation tariffs (i.e. reduced tariffs payable by consumers based on their RTS generation). Technical and safety standards. One Window Web Portal ...
Banking and FinanceMEMBERSHIP OF FAST AND CENTRAL SHARED SWITCH SYSTEMS, Prakas № B14-016-147 Pror Kor, dated 19 May 2016This Prakas, effective from 19 May 2016, requires banking and financial institutions to become members of FAST and Central Shared Switch systems. It aims at encouraging an easy, quick, effective, secure and reliable retail payment in order to foster the development of banking and financial sectors and the national economy ...
Implementation of Prakas on minimum registered capital of banking and financial institutions,Circular № B7-016-117 C.L, dated 16 June 2016This Circular, issued on 16 June 2016, aims at implementing Prakas №B7-016-117 on Minimum Registered Capital of Banking and Financial Institutions (“BFIs”), dated 22 March 2016 (“Prakas №B7-016-117”), in relation to procedures for increasing the minimum registered capital requirements of BFIs ...
CalPERS Announces New Administrative Fees for Section 218 Agreements The California Public Employees' Retirement System (CalPERS), the California State Social Security Administrator (SSSA), announced in July that it will begin charging new administrative fees to public agencies for Section 218 Agreements to pay the cost of administering the SSSA program ...
Since receiving Royal Assent on 28 April 2022, the Building Safety Act 2022 (BSA) has continued to lumber along - coming into effect in phases and throwing up legal complications as it goes. The government has therefore been required to create secondary legislation – regulations - to seek to clarify and untangle various provisions in the BSA. The Act is reliant on regulations to provide the detail of many of its provisions ...
Although the currently effective Hungarian Civil Code does not name a call option as security, it does not prohibit the use of a call option as security either. The first question this raises, therefore, is whether Hungarian law permits the use of a call option as security? Naturally, this then creates more questions ...
On October 13, 2021, through the website of the Ministry of Mining, the Government of Chile published the National and International Call for Lithium. National or foreign companies may participate in this process, which will have to acquire the respective public tender conditions, to allow exploration, exploitation, and commercialization of a total of 400,000 tons of marketable metallic lithium, divided into 5 quotas of 80,000 tons each ...
The European Commission has opened a call for evidence until 3 October 2022 with regards to the “Consortia Block Exemption Regulation”. This block exemption allows liner shipping operators to cooperate in the provision of services. The block exemption will expire on 25 April 2024. The call for evidence is intended to assess how well the block exemption has functioned since it was last extended in 2020. The call for evidence may be accessed here : https://ec ...
