THE AIAC ARBITRATION RULES 2021 AND THE KEY CHANGES TO MALAYSIAN ARBITRATION PRACTICE & PROCEDURE
INTRODUCTION On 1st August 2021, the AIAC Arbitration Rules 2021 (“2021 Rules”) was launched and took effect, replacing all previous editions of the AIAC Arbitration Rules. The 2021 Rules shall apply to all arbitrations commenced after this date, unless agreed otherwise by the parties.
Vietnam Legal & Tax Updates (as of October 2021)
If you are interested in investing in Vietnam or running an existing business in Vietnam, be sure to watch this highly informative video.
Thailand Tax & Transfer Pricing Updates (as of December 2021)
This session is a year in review as well as a discussion of potential tax planning strategies, which may prove beneficial given the past 12 months. In addition, our experts provide a transfer pricing update given that 2021 was the first effective year for the new transfer pricing legislation along with a discussion of managing …
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Cambodia: E-Commerce VAT Registration/Reverse Charge Implementation Date Extended
The General Department of Taxation (“GDT”) issued Notification no. 776 GDT on the 17th of January 2022 (“Notification 776”) which delays the implementation of Prakas 542 MEF.P on the Rules and Procedure for the Implementation of VAT on E-Commerce (“Prakas 542”) to 31 March 2022.
Thai Cabinet Passes New Draft Resolution Easing Restrictions on Cross-Border Transactions and Commercial Activities
On 23 November 2021 The Thai Cabinet passed a resolution permitting the amendment of Ministerial Regulation No. 13 (the “Regulation”) under the Exchange Control Act (1942) which relaxes a lot of the rules on cross-border transactions, online activities and e-commerce matters.
Thailand’s ETDA Set to Release Far Reaching Royal Decree on Digital Processing Processors Ensnaring Foreign Companies Supplying Thai Consumers
On 25 October 2021, the Thai Cabinet approved in principle the national Electronic Transactions Development Agency’s (“ETDA”) release of its Royal Decree on Supervision of Digital Platform Services Required to be Notified (“DPRD”) under the auspices of the Electronic Transactions Act B.E. 2544 (2001).
Mediation: A Star in the Making as a Dispute Resolution Method for Commercial Disputes (Focus on Thailand)
Mediation is a confidential, fast, flexible and cost-effective dispute resolution (“DR”) method based on the mutual consent of the involved parties. Companies, contractors, individuals, banks, real estate owners, governmental bodies; or any combination thereof may be parties to commercial mediation. Breaches of contract, business torts etc. can all be successfully submitted to and/or resolved through …
Grounds for the Annulment of Domestic Arbitration Awards in Indonesia (Recent Development)
Introduction Under the Arbitration Law (Law No. 30 of 1999), a domestic arbitration award that has been registered by the arbitrator(s) or its proxy with the court can be annulled. The annulment request must be made in writing and submitted to the relevant district court within 30 days of the submission and registration date of …
The Indonesian Constitutional Court Ruling on the Omnibus Law: Unconstitutional with Conditions?
Brief Overview On the 25th of November 2021, under its final and binding ruling No. 91/PUU-XVIII/2020 (“Ruling”), the Indonesian Constitutional Court (Mahkamah Konstitusi – “Court”) ruled on an application for a judicial review of Law No. 11 of 2020 on Job Creation (commonly known as the “Omnibus Law”) – a law which (i) changed 78 …
Financial Services Authority (OJK) Regulates Digital Banks
On 30 July 2021, the Financial Services Authority (“OJK”) has issued OJK Regulation No. 12/POJK.03/2021 on Commercial Banks (“POJK 12/2021”). POJK 12/2021 was issued to anticipate, amongst other things, a business development and banking trend including the development and innovation of information technology. One of the interesting topics of POJK 12/2021 is the introduction of …
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