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In this newsletter, we highlight the key contents of the Transfer Pricing Draft Decree that Grant Thornton Vietnam would like to bring to your attention:
1. International changes
2. Broadening the governing scope and some amendments in the determination of related party relationship
3. “Substance over form” principle
4. Tax deduction with respect to interest and service expenses
5. Hierarchy of comparable analysis
6.Simplification of the declaration procedures of related party transactions
7. Some new requirements for declaration and preparation of compliance documents
8. Full compliance with local Transfer Pricing regulations will assist taxpayers in gaining advantages against the tax assessment from tax authorities
9. Grant Thornton Vietnam’s recommendations
We hope you will find these updates helpful and please do not hesitate to contact us on any queries you might have on these updates as well as our services. We will be happy to help.
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