What are trực tiếp bóng đá hôm nay 03 cases where taxpayers are exempt from transfer pricing declaration and documentation requirement in Vietnam?

What are trực tiếp bóng đá hôm nay 03 cases where taxpayers are exempt from transfer pricing declaration and documentation requirement in Vietnam?

Based on trực tiếp bóng đá hôm nay provisions of Article 19 ofDecree 132/2020/ND-CP, there are three scenarios where taxpayers are exempt from transfer pricing declaration and documentation as follows:

Case 1:Taxpayers are exempt from declaring transfer pricing determinants under Sections III and IV of Appendix I issued with trực tiếp bóng đá hôm nay Decree. They are also exempt from preparing transfer pricing documentation if transactions are only with affiliated entities subject to corporate income tax in Vietnam, applying trực tiếp bóng đá hôm nay same corporate income tax rate as trực tiếp bóng đá hôm nay taxpayer and where no party is enjoying corporate income tax incentives in trực tiếp bóng đá hôm nay tax period. However, trực tiếp bóng đá hôm nay basis for exemption must be declared in Sections I and II of Appendix I issued with trực tiếp bóng đá hôm nay Decree.

Case 2:Taxpayers have trực tiếp bóng đá hôm nay responsibility to declare trực tiếp bóng đá hôm nay determination of transfer prices according to Appendix I issued with this Decree but are exempt from preparing transfer pricing documentation in trực tiếp bóng đá hôm nay following cases:

- Taxpayers have transactions with affiliated entities but have generated less than 50 billion dong in total revenue and less than 30 billion dong in total value of all affiliated transactions during trực tiếp bóng đá hôm nay tax period;

- Taxpayers have entered into an Advance Pricing Agreement and submit annual reports according to legal provisions on Advance Pricing Agreements. For transactions not covered by trực tiếp bóng đá hôm nay Advance Pricing Agreement, taxpayers must declare transfer pricing determinants according to trực tiếp bóng đá hôm nay provisions in Article 18 ofDecree 132/2020/ND-CP;

- Taxpayers conduct business with simple functions, without revenue or expenses from exploiting intangible assets, with revenue below 200 billion dong, applying a net profit ratio excluding interest expenses and corporate income tax (excluding differences in financial activity revenue and expenses) on net revenue, covering areas as follows:

+ Distribution: 5% or more; + Manufacturing: 10% or more; + Processing: 15% or more.

Taxpayers tracking and separately accounting for revenue and expenses by each area should apply trực tiếp bóng đá hôm nay net profit ratio excluding interest expenses and corporate income tax on net revenue accordingly.

Taxpayers tracking and separately accounting for revenue but not expenses for each business area must allocate expenses according to trực tiếp bóng đá hôm nay revenue ratio of each area to apply trực tiếp bóng đá hôm nay net profit ratio excluding interest expenses and corporate income tax on net revenue accordingly.

Taxpayers not tracking and separately accounting for both revenue and expenses of each operational business area to determine trực tiếp bóng đá hôm nay net profit ratio excluding interest expenses and corporate income tax accordingly must apply trực tiếp bóng đá hôm nay highest sector's net profit ratio excluding interest expenses and corporate income tax on net revenue.

Taxpayers not applying trực tiếp bóng đá hôm nay specified net profit ratio in this point must prepare transfer pricing documentation according to regulations.

Case 3:Where taxpayers are exempt from transfer pricing declaration and documentation per Clauses 1 and 2 of this Article, trực tiếp bóng đá hôm nay determination of total deductible interest expenses when determining taxable corporate income of enterprises with affiliated transactions is implemented according to Clause 3 of Article 16 ofDecree 132/2020/ND-CP.

What are trực tiếp bóng đá hôm nay 03 cases where taxpayers are exempt from transfer pricing declaration and documentation requirement in Vietnam?(Image from trực tiếp bóng đá hôm nay Internet)

When is transfer pricing documentation prepared in Vietnam?

Based on trực tiếp bóng đá hôm nay provisions of Clause 6 of Article 18 ofDecree 132/2020/ND-CPas follows:

Rights and Obligations of trực tiếp bóng đá hôm nay Taxpayer in Declaring and Determining Transfer Prices

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6. Transfer pricing documentation must be prepared before trực tiếp bóng đá hôm nay annual corporate income tax finalization declaration and must be maintained and presented upon trực tiếp bóng đá hôm nay tax authority’s request for information provision. When tax authorities conduct audits or inspections, trực tiếp bóng đá hôm nay period for providing transfer pricing documentation shall be in accordance with trực tiếp bóng đá hôm nay Inspection Law from trực tiếp bóng đá hôm nay date of receipt of trực tiếp bóng đá hôm nay information request.

Transfer pricing documentation and information, documents, and evidence provided to trực tiếp bóng đá hôm nay tax authority shall comply with tax management laws. Data, evidence, and documents used as trực tiếp bóng đá hôm nay basis for analysis, comparison, and determination of transfer prices must clearly state trực tiếp bóng đá hôm nay original source. Where data from independent comparable objects is accounting data, taxpayers are responsible for retaining and providing it to trực tiếp bóng đá hôm nay tax authority in soft copies, in spreadsheet format.

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Thus, according to trực tiếp bóng đá hôm nay above regulation, transfer pricing documentation is prepared before trực tiếp bóng đá hôm nay time of trực tiếp bóng đá hôm nay annual corporate income tax finalization declaration.

What are responsibilities for taxpayers have in retaining and providingtransfer pricing documentation in Vietnam?

Based on trực tiếp bóng đá hôm nay provisions of Clause 4 of Article 18 ofDecree 132/2020/ND-CP, taxpayers have trực tiếp bóng đá hôm nay responsibility to retain and provide transfer pricing documentation, including:

- Taxpayers must retain and provide transfer pricing documentation which consists of information, documents, data, and evidence including:

+ Information on trực tiếp bóng đá hôm nay affiliated relationship and affiliated transactions according to Appendix I issued withDecree 132/2020/ND-CP;

+ trực tiếp bóng đá hôm nay local file is information concerning affiliated transactions, policies, and methods of pricing for affiliated transactions prepared and retaind at trực tiếp bóng đá hôm nay taxpayer's headquarters as detailed in trực tiếp bóng đá hôm nay information content, documents prescribed in Appendix II issued withDecree 132/2020/ND-CP;

+ trực tiếp bóng đá hôm nay master file containing information on trực tiếp bóng đá hôm nay multinational group’s business activities, pricing policies, and functional allocation across trực tiếp bóng đá hôm nay group's value chain according to trực tiếp bóng đá hôm nay content list, documents prescribed in Appendix III issued withDecree 132/2020/ND-CP;

+ trực tiếp bóng đá hôm nay ultimate parent company’s Country-by-Country report as per trực tiếp bóng đá hôm nay regulation in Clause 5 of this Article and Appendix IV issued withDecree 132/2020/ND-CP.