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INSIGHTS THIS MONTH

September 2022

HIGHLIGHT OF THIS MONTH

Foreign Construction Contractor in Vietnam: Local Compliance Framework

In this article we describe requirements of Vietnamese law that need to be complied with when foreign contractors are engaged in construction works in Vietnam. Highlights of this note...

IN THIS ISSUE

DICA Tightens the Requirements of Seeking DICA’s Recommendation for the Extension of Foreigners’ Stay Permits, Work Permits and Entry Visas

[From our Regulatory Team - Myanmar Office]

The Directorate of Investment and Company Administration (the “DICA”) issued an announcement dated 15 September 2022 with respect to the changes in the process... 

Circular No, 08.01.0000.030.06.005 (part-01). 21/203 of NBR, on “Withdrawal of obligation to submit proof of filing of income tax returns to scheduled banks in respect of taking loans up to specified limits and credit card transactions” dated 18 September 2022.

[From our Bangladesh Office]

The National Board of Revenue (NBR) has withdrawn the provision of mandatory income tax return certificate submission for obtaining loans and credit cards on... 

Department of Sustainable Finance (SFD) of Bangladesh Bank Circular No. 05: “Policy on Green Bond Financing for Banks and Financial Institution” dated 18 September 2022.

[From our Bangladesh Office]

Aiming to sustainable development goal, The Bangladesh Bank has issued a circular on green bond facility for banks and financial institution. As per the... 

Department of Foreign Exchange Policy (FEPD) of Bangladesh Bank Circular No. 22, On “Foreign exchange transactions for merchanting trade” dated 14 September 2022

[From our Bangladesh Office]

Aiming to facilitate transactional services by Authorized Dealers (ADs) to their merchanting traders’ customers, The Bangladesh Bank published some guideline. According to the circular,... 

Department of Foreign Exchange Policy (FEPD) of Bangladesh Bank Circular No. 25, On “Maintaining Correspondent Accounts in Chinese Yuan Renminbi (CNY)” dated 15 September 2022.

[From our Bangladesh Office]

Aiming to widen the scope for banks, Bangladesh Bank published a circular to settle cross-border payment in yuan. Previously, the authorized dealers could maintain... 

Sub-Decree No.196 ANKr.BK dated 28 September 2022 issued by the Royal Government of Cambodia on “New Annual Tax on Income and Monthly Tax on Salary Thresholds”

[From our Cambodia Office]

The Sub-Decree specifies new Tax on Income (“TOI”) thresholds for the taxable income earned by physical persons, sole proprietorships, and the distributive share of... 

OUR UPCOMING EVENTS

not yetNew Opportunities for Renewable Energy And Grid Reinforcement in Cambodia

29 November 2022, Physical and Online Event

RECENT VDB LOI WORK

Solar power project in Bangladesh: VDB Loi has been engaged by an independent solar power producer for its solar power project in Bangladesh.

M&A services in Myanmar: The Myanmar team is conducting a comprehensive legal and tax due diligence for a leading Singapore-based investment holding company for the potential acquisition of an e-commerce business in Myanmar.

Cross-border financing in Vietnam: The VDB Loi team is working with a leading law firm as local counsel, assisting a large Asian bank in its financing to a Vietnamese bank.

Employment and tax matters in the Lao PDR: VDB Loi Laos advised a global international NGO on the legal and regulatory framework of its work in the Lao PDR, particularly with respect to employment and tax matters.

Green bond issuance in Cambodia: VDB Loi Cambodia is providing start-to-finish legal services for the private issuance of green bonds to selected investors in Cambodia by an issuer in the solar power industry, the first deal of its kind in the country.

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