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CIT Finalization in the New Vietnamese TP Environment
17 Jan 2018The majority of Vietnamese taxpayers end their financial years on December 31 and thus will be subject to the deadline for 2017 corporate income tax (“CIT”) returns on March 31, 2018.
In an effort to prevent taxpayers from illegal transfer pricing act-of-conduct and fight against the loss of State Budget, the Vietnamese government introduced its new regulations on transfer pricing matters, i.e. Decree No. 20/2017/ND-CP dated February 24, 2017 (“Decree 20”) and Circular No. 41/2017/TT-BTC dated April 28, 2017 (“Circular 41”), which should supersede Circular No. 66/2010/TT-BTC dated April 22, 2010 (“Circular 66”) of the Vietnam’s Ministry of Finance. Accordingly, these new regulations of Vietnam on Transfer Pricing matters take effect from May 1, 2017 onwards.
This article discusses the new Vietnamese transfer pricing filing requirements that taxpayers should pay attention to.
Please contact our experts to receive the full article which features following points:
- Transfer Pricing Disclosure Forms
- Transfer Pricing Documentation Report
- Deductibility of Expenses
