nternational transactions are growing rapidly and compliance with the different requirements of overlapping tax jurisdictions is a complicated and time-consuming business. It is understood that the work on transfer pricing is playing a fundamental role. Therefore, a transfer pricing conference was held by E-Jung and CTAC on 12th July 2017, from 3:00 pm to 5:30 pm at Grand Plaza hotel, Hanoi with over 100 participants from more than 80 Korean enterprises located in the North of Vietnam.
With leading experts from E-Jung and CTAC, the transfer pricing conference presented and debated numerous changes and provided valuable insights on the topic, to help the Korean enterprises with more understanding of the tax systems and how their difficulties are solved. Specifically, the experts introduced the regulatory procedures for transfer pricing with 4 forms according to the Decree No. 20/2017/ND-CP:
Form No. 1: Information on related-party relationship and transactions;
Form No. 2: List of needed information and documents in the local file;
Form No. 3: List of needed information and documents in the global file;
Form No. 4: Country-by-Country profit report.
Moreover, the significant differences between Decree No. 20/2017/ND-CP and Circular 66/2010/TT-BTC were clarified during the seminar. The experts also gave some solutions to minimize the risks of transfer pricing related to APA (Advance Pricing Agreement) and MAP (Mutual Agreement Procedure).
E-Jung and CTAC hope that our cooperation shall actively support Korean enterprises in transfer pricing and contribute to their development in Vietnam.