Recently, Vietnam has witnessed a dramatic increase in cyber fraud, causing significant financial losses and posing a grave threat to both Vietnamese and foreign entities. With the increasing reliance on digital technology and the widespread adoption of online platforms, the country has become fertile ground for cybercriminals to exploit vulnerabilities and conduct various fraudulent activities. This article aims to present an overview of addressing cyber fraud in Vietnam and offers practical advice for businesses to safeguard themselves from becoming victims of such illicit activities.

Laos has returned its value-added tax rate to 10% from the 7% rate that had been observed for the last two years. The new rate was specified in Ordinance No. 003/PDT, dated March 19, 2024, and announced on the website of the Ministry of Trade and Commerce. Prior to this, the last announcement of an adjustment in the VAT rate came in the last week of December 2021, when the Ministry of Justice published the Law Amending Certain Provisions of the Laws on Tax No. 01/NA, dated August 7, 2021, in the Government Gazette. This law, which entered into force in January 2022, amended the VAT rate from 10% to 7%. Under Lao law, the ordinance is effective from its date of signing by the president of Laos (i.e., March 19, 2024). However, the tax authorities have indicated that the new rate will not be enforced immediately but will be implemented in the near future, such as when it is published in the Lao Official Gazette. This change of the VAT rate to 10% does not come as a surprise. Some international experts and organizations had been recommending that Laos adopt a 10% VAT rate given its current economic challenges, arguing that Laos should prioritize collecting tax and replenishing the state budget. This was, for instance, recommended by the World Bank in the November 2023 Lao PDR Economic Monitor. Tilleke & Gibbins will continue to monitor the situation to determine when the 10% VAT rate will be enforced. For more details on the rate changes, or on any aspect of tax law in Laos, please contact Tilleke & Gibbins at [email protected].

The primary goal of business rehabilitation proceedings in Thailand is to provide debtors who are facing insolvency with various mechanisms to address their financial difficulties. This includes restructuring their liabilities and assets while also ensuring that creditors receive repayment equal to or greater than the amount they would have received if the debtor had been declared bankrupt by the court. Rehabilitation proceedings are governed by the Act on the Establishment of and Procedure for Bankruptcy Court B. E. 2542 and the Bankruptcy Act B.E. 2483. The Civil Procedure Code regulates any matters not governed by these two laws. In the eyes of the Thai judiciary, rehabilitation proceedings are classified as a type of bankruptcy action—thus, the country’s bankruptcy courts have jurisdiction over rehabilitation matters. Business Rehabilitation Proceedings in Thailand is a detailed guide to the rehabilitation process for businesses in Thailand. It contains important information for entrepreneurs, creditors, and other stakeholders in businesses in Thailand that are facing challenges and that may be candidates for business rehabilitation. The full Business Rehabilitation Proceedings in Thailand guide can be downloaded through the button below.

The pervasive global issue of illicit personal data trading has extended its reach into Vietnam, where such sensitive information is being sold at minimal costs. A 2023 report from the Ministry of Public Security revealed that over two-thirds of the Vietnamese population has fallen victim to unlawful data collection and distribution. In the past two years, authorities have pressed charges on five criminal cases involving the buying and selling of billions of items of personal data, encompassing a wide range of sensitive information such as names, phone numbers, email addresses, and more. Notably, a person’s profile can be acquired for just USD 1, while profiles of millions of business customers can be obtained for a mere USD 100. Recognizing the severity of the problem, Vietnam has made serious efforts to combat illicit personal data trading by criminal means, encompassing both the legal framework and practical implementation.   Understanding the Criminal Legal Framework Vietnam’s 2015 Criminal Code, as amended in 2017, functions as a pivotal legal instrument delineating offenses and their corresponding punishments. Under Section 2 of Chapter XXI of the Criminal Code (“Offenses Against Regulations on Information Technology and Telecommunications Networks”), individuals engaging in the illicit trading of personal data, depending on the nature of the data (e.g., information about phone number, address, or—more dangerously—bank account) and the nature of the infringing acts, may be charged under different crimes. The sanctions can include monetary fines; non-custodial reform; imprisonment; and/or prohibition from holding certain positions, practicing certain professions, or doing certain jobs. For example, for the illicit trade of private information of an individual on a computer or telecommunications network, Article 288 of the Criminal Code specifies penalties including a monetary fine of up to VND 1 billion (equivalent to around USD 41,000); non-custodial reform of up to three years;