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The Ministry of Labour and Vocational Training (“MOL”) would like to inform all owners or directors of enterprises who employing foreign labor and foreigners who are doing business in the Kingdom of Cambodia that pursuant to the Law of Labor of the Kingdom of Cambodia and Prakas no. 195 dated 20 August 2014 on employment card and foreign work permits, the MOL would like to inform that the application of employment card and foreign work permits for year 2024 shall be implemented as follows:

Instruction on work permits for a foreign employer

繊維及びアパレル産業の企業に対する前払事業所得税の一時停止措置の延長

Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the presentation of a complete set of financial statements.

The 2021 edition of the publication has been updated for changes to International Financial Reporting Standards (IFRS) that were published between 1 January 2020 and 31 December 2020.

Preparers of financial statements are now having to think about how, where and what form they should report COVID-19 in their financial statements. We believe it is important to not only comply with the guidance set out in IFRS, but also ensure the financial statements are an effective part of the wider communication with stakeholders.

Drawing on the TP issues raised by our clients from around the world, our TP experts highlight the dilemmas your business could face in determining arm’s length transfer prices, the ramifications and potential risks. We conclude by setting out six practical ways to navigate through the TP minefield.

Put cash management and forecasting at the centre of your resilience plan, optimising your agility and helping you react to rapid change.

Prakas No. 001 and Prakas No. 103

The COVID-19 pandemic is having a tremendous impact on the world’s economy. Many businesses are struggling to stay afloat and doing whatever they can right now to rationalise costs and preserve any cash surpluses they have in order to bridge future cash flow needs. Around the world, governments are stepping in to try and limit the impact of the pandemic by providing financial support in numerous ways from direct cash payments through to the deferral of tax payments.

As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.

The spread of the Coronavirus is impacting businesses around the world. Entities need to carefully consider the accounting implications of this situation. This IFRS Alert considers the impact of the Coronavirus on 31 December 2019 year ends

Implementation of IFRS 17

Navigating the changes to IFRS 2020

Accounting alert

Example Financial Statements 2019