INSIGHTS THIS MONTH
HIGHLIGHT OF THIS MONTH
New National Power Development Plan in Vietnam
Vietnam office of VDB Loi provides an outline of key points that investors need to know about the newly adopted Power Development Plan in Vietnam, provide a link to...
IN THIS ISSUE
Withholding Tax and Personal Income Tax Payment Be Made in Foreign Currency for Non-resident Taxpayers
[From our Myanmar Office]
The Central Bank of Myanmar (“CBM”) issued Directive No. 2/2023 on 25 January 2023 requiring that withholding tax (“WHT”) and personal income tax (“PIT”)...
Offshore Remittances – New Rules
[From our Myanmar Office]
As a regulatory measure, the Ministry of Planning and Finance (the “MOPF”) issued a new Standard Operating Procedure (“SOP”) on 1 May 2023 regarding...
Changes in Myanmar Exporter and Importer Registration Procedures
[From our Myanmar Office]
On 23 May 2023, the Trade Department of the Ministry of Commerce (“MOC”) issued a new importer and exporter registration (“IMPEX”) order via Notification...
Circular No. 04 dated 24 May 2023 issued by the Department of Financial Institutions and Markets of the Bangladesh Bank on “Identification as a Public Limited Company under the Companies (2nd Amendment) Act, 2020”
[From our Bangladesh Office]
Under the 2020 amendment of the Companies Act 1994, all public limited companies must add “PLC” at the end of their company name. Therefore,...
Circular No. 04 dated 8 May 2023 issued by the Foreign Exchange Policy Department of the Bangladesh Bank on “Clarification of ‘Digital Marketing’ and ‘Broadcast Advertising’ under Section 56 of the Income Tax Ordinance 1984”
[From our Bangladesh Office]
When banks send remittances of income in favor of non-resident institutions, they have been deducting tax under Section 56 of the Income Tax Ordinance...
New Developments under the Public Procurement Law 2023
[From our Cambodia Office]
On 16 May 2023, the new Law on Public Procurement (“New PPL”) was promulgated by Royal Kram No. NS/RKM/0112/005 to regulate the rules, methods,...
OUR UPCOMING EVENTS
Transfer Pricing Tax Audits: Practical Strategies for Preparing Documentation and Defense
8 June 2023, Phnom Penh/ Online Webinar
INTRODUCING ANDERSEN GLOBAL NETWORK
Empower Possibilities in Malaysia and Beyond with HHQ, a Member Firm of Andersen Global
Halim Hong & Quek (‘HHQ’) is a Malaysian law firm with a global reach that combines best in class legal expertise and strong stewardship to deliver exceptional service and result-driven solutions. Trusted since October 1, 2000, the firm now has more than 40 lawyers offering clients a full suite of legal services. With a presence in three major cities in Malaysia – Kuala Lumpur, Johor Bahru and Penang, we represent clients from around the world in complex business transactions and high-stakes litigation.
At HHQ, we are at the forefront of excellence in our key practice areas, which encompass M&A, real estate, taxation, employment, construction, and finance. Renowned for our unparalleled expertise, we proudly advise and guide the industry’s foremost developers and influential players in pivotal development transactions across the region.
In November 2020, HHQ established an alliance with HLP with a common focus to provide our clients with greater access to high-quality and cost-effective legal services. Through this strategic alliance, we are capable of assembling cross-disciplinary teams with deep expertise necessary to provide holistic solutions for our clients’ specific needs.
Building on our dedication to global excellence, in January 2023, HHQ became a member firm of Andersen Global, an association of legally separate, independent member firms spanning across more than 170 countries. With over 13,000 professionals, 1,800 global partners, and 390 locations worldwide, this exciting development further reinforces our global strategy and empowers us to deliver seamless global service, positioning our clients for continued growth.
HHQ’s Belt and Road Initiative (BRI) Service Group brings extensive experience and expertise to support clients in navigating the complex legal landscape of BRI. With a deep understanding of the legal and regulatory frameworks across countries involved in the belt and road, our team provides strategic guidance and comprehensive solutions to facilitate cross-border transactions, infrastructure projects, and investments. From contract negotiations to dispute resolution, HHQ’s dedicated BRI team leverages their knowledge and insights to ensure clients’ interests are protected and their objectives are achieved in this transformative global initiative.
We are proud to announce that HHQ has been recognized as the leading law firm in Malaysia for 2023 by The Legal 500 Asia Pacific and the Chambers Asia-Pacific. This prestigious acknowledgment reaffirms our commitment to excellence and inspires us to continue providing exceptional legal solutions to our clients.
RECENT VDB LOI WORK
Waste-to-energy project in Bangladesh: VDB Loi Bangladesh is advising on various aspects of the project, including legal and tax structuring.
Solar acquisition in Cambodia: The Cambodia team assisted on the potential acquisition of a 20MW solar energy project by a leading renewable independent power producer.
Legal and tax advice in the Lao PDR: The Laos team is advising a leading technology company on an online lottery business in Laos.
Tax services in Myanmar: The Myanmar tax team is assisting a global network infrastructure provider with its tax compliance in Myanmar.
M&A transaction in Vietnam: The Vietnam team conducted legal due diligence, focusing particularly on customs and environmental protection compliance for a large-sized M&A transaction.
Archive
- Government Increases Subsidies for Pregnant Women and Young Children (VDB Loi Insights)
August 2023 - Vietnam New Regulation from State Bank of Vietnam on Foreign Loans (VDB Loi Insights)
July 2023 - Automated System to Apply for E-Commerce Licenses/Permits Available (VDB Loi Insights)
June 2023 - New National Power Development Plan in Vietnam (VDB Loi Insights)
May 2023 - Myanmar: Major Changes in the Union Tax Law 2023 (VDB Loi Insights)
April 2023 - Clean Energy Transition is Additional Drive for Regional Power Trades in South and South East Asia (VDB Loi Insights)
March 2023 - Maximizing Benefits from Investment Incentives (VDB Loi Insights)
February 2023 - Is Land Acquisition the Real Reason Behind the Unbearable Delay of Solar Projects? (VDB Loi Insights)
January 2023 - VDB Loi Hosts Major Seminar on Renewable Energy in Cambodia (VDB Loi Insights)
November 2022 - New Opportunities for Renewable Energy and Grid Reinforcement in Cambodia (VDB Loi Insights)
October 2022 - Foreign Construction Contractor in Vietnam: Local Compliance Framework (VDB Loi Insights)
September 2022 - Setting Up Or Acquiring Manufacturing Business In Vietnam
August 2022 - Pathway to an Independent Power Project in Vietnam
July 2022 - Foreign loans for Vietnamese borrowers – Q&A
June 2022 - Green Finance in Southeast Asia
May 2022 - How Does Bangladesh’s Blockchain Strategy Look Like?
April 2022 - VDB Loi Cambodia Wins IFLR Asia-Pacific National Law Firm of the Year Award
March 2022 - Will Income From Cryptocurrency Be Taxed In Vietnam? (VDB Loi Insights)
February 2022 - The New Laws on Investment and Public-private Partnership: Setting the Foundation for Advanced Private Investment Landscape in Cambodia
January 2022 - Bangladesh Project Finance Update: Some New Developments and Practices on the Local Aspects of Cross-border Financing in Bangladesh
November 2021 - Update on Investment Licensing in Bangladesh: New BIDA Practices
October 2021 - Intra Group Services – Are Cambodian Taxpayers Waving a Red Flag to the GDT? Part One
September 2021 - VDB Loi Cambodia Awarded Cambodia Tax Firm of the Year
August 2021 - New Regulation in Cambodia on Road Transportation Services Provided With the Use of Digital Technologies
July 2021 - Tax Amnesty on Undisclosed Income at Reduced Tax Rates
June 2021 - M&A Hot Issues
May 2021 - Phnom Penh Lockdown: Who Remains Open? Which Authorities Still Work?
April 2021 - Annual Audit of Personal Income Tax in the Lao People’s Democratic Republic (VDB Loi Insights)
March 2021 - New Tax Rules in Laos, Solar Bids in Cambodia, Expat Labor Rules Myanmar
February 2021 - What Is Different About Cambodia’s New Solar Project Tender? (VDB Loi Insights)
January 2021 - Laos: Key Changes to Secured Transactions
November 2020 - New Rules Issued for Unsolicited Projects in Myanmar
October 2020 - VDB Loi Celebrates Outstanding Asialaw Rankings (VDB Loi Insights
September 2020 - VDB Loi Crowned Tax Firm Of The Year For Third Time At The 2020 ITR Tax Awards
August 2020 - Challenging Times Ahead? What Lenders and Other Creditors Need to Know About Myanmar’s New Insolvency System
July 2020 - Loan Transactions In Southeast Asia: Getting Through The Challenging Times
June 2020 - How To Win at Myanmar’s Solar Tender, Part of COVID-19 Stimulus Package?
May 2020 - Do Employees Have the Right to Work Remotely? Questions on Labor Law Facing the Corona Virus Outbreak
April 2020 - Myanmar, Cambodia and Laos Facing the Pandemic Challenge
March 2020 - Project Bank (finally) published
February 2020 - Myanmar Approved FDI for 2019 in Power Sector: All Projects Selected VDB Loi as Advisor
January 2020 - The Impact of the 2019 Construction Law on Property Development in Cambodia
November 2019 - Can you sue a dissolved company? (VDB Loi Insights)
October 2019 - Myanmar Arbitration Update
September 2019 - Myanmar Passes New Law for Land Acquisition, Resettlement and Rehabilitation
August 2019 - How to Create a Tidal Wave of Foreign Investment in Electricity and Infrastructure? By These 5 Steps. (VDB Loi Insights)
July 2019 - Power Surge at MOEE
June 2019 - Myanmar About to Launch Power Barge Tender
May 2019 - VDB Loi Insights
April 2019 - VDB Loi Wins Law Firm of the Year
March 2019