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INSIGHTS THIS MONTH

January 2024

HIGHLIGHT OF THIS MONTH

Update on Tax Challenges for Foreign Airlines in Cambodia

Siem Reap and Phnom Penh’s success as a tourist destination, as well as a fairly robust economic development, has among other things resulted in a significant boost in connectivity...

IN THIS ISSUE

10 Frequently Asked Questions about Trademark in Cambodia

[From our Cambodia Office]

In February 2002, the National Assembly adopted the Law on Marks, Trade Names and Acts of Unfair Competition (“Trademark Law”), with a Sub-Decree on... 

E-commerce Registration Commences

[From our Myanmar Office]

On 2 October 2023, the Ministry of Commerce (“MOC”) introduced its e-commerce registration system, known as eComReg, during an awareness-raising event held at the... 

CBM Relaxes Foreign Exchange Restrictions on Exporters

[From our Myanmar Office]

On 5 December 2023, the Central Bank of Myanmar (“CBM”) announced, through its letter no. 1/2937 (“Letter 1/2937”), that it will no longer determine... 

The Central Bank of Myanmar Narrows the Time Frame for the Inbound Remittance of Export Earnings

[From our Myanmar Office]

On 25 December 2023, the Central Bank of Myanmar (“CBM”) issued Notification No. 27/2023 to reduce the time frame for the inbound remittance of... 

The Ministry of Commerce Specifies Model Years for 2024 Vehicle Imports into Myanmar

[From our Myanmar Office]

On 21 December 2023, the Ministry of Commerce issued Notification 80/2023, which is its regular yearly announcement to specify the manufacturing years of various... 

Bangladesh Bank Expands RTGS System to Include Chinese Yuan

[From our Bangladesh Office]

The Bangladesh Bank is incorporating the Chinese Yuan (“CNY”) into its real-time gross settlement (“RTGS”) system. Presently, the RTGS system facilitates clearing and settlement... 

Enhancing Loan Repayment Oversight: Bangladesh Bank Calls for Dedicated Revenue Accounts for Project Financing

[From our Bangladesh Office]

Under this circular, the Bangladesh Bank is directing financial institutions to establish revenue accounts in the name of funded projects to ensure effective loan... 

Guidelines on Financial Reporting for Bangladesh Special Bonds and Subsidies

[From our Bangladesh Office]

Until further instructions, the following procedure must be followed for financial and regulatory reporting of the Government of Bangladesh Special Purpose Bonds issued to... 

OUR UPCOMING EVENTS

Tax Audits for VAT Reverse Charge on E-goods, Services and IT

9 February 2024, Phnom Penh

RECENT VDB LOI WORK

Market entry in Bangladesh: The Bangladesh team is advising a multinational home appliances and consumer electronics company on its market entry with regard to a greenfield electronics factory in Bangladesh.

Tax advice in Cambodia: The Tax team is advising an international casino developer on the Cambodian tax regime and implications for commercial gambling operations in the country.

EV operations in the Lao PDR: The Lao team is advising a regional EV taxi provider on market entry and investment in the transportation sector in the Lao PDR.

Restructuring in Myanmar: VDB Loi has been engaged by a company operating in the oil & gas space to advise on restructuring its operations in Myanmar.

Energy advisory: VDB Loi Vietnam advised an export credit agency on the energy and renewables sector in Vietnam.

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