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What are regulations onthe application of bilateral APA in Vietnam?
đá bóng trực tiếp advance pricing agreement (APA) is herein referred to as APA.
According to Clause 2, Article 41 ofDecree 126/2020/ND-CP, đá bóng trực tiếp application of bilateral APA must comply with đá bóng trực tiếp provisions in Clause 6, Article 42 of đá bóng trực tiếpLaw on Tax Administration 2019, specifically:
- đá bóng trực tiếp application of bilateral APA is based on đá bóng trực tiếp taxpayer's request, đá bóng trực tiếp agreement between đá bóng trực tiếp tax authority and đá bóng trực tiếp taxpayer according to đá bóng trực tiếp bilateral agreement among đá bóng trực tiếp tax authority, đá bóng trực tiếp taxpayer, and đá bóng trực tiếp foreign tax authority, involved territories;
- đá bóng trực tiếp application of APA mechanism must be based on đá bóng trực tiếp taxpayer's information, commercially validated data ensuring legality;
- đá bóng trực tiếp application of APA must be approved by đá bóng trực tiếp Minister of Finance before implementation; for bilateral agreements involving foreign tax authorities, it must be carried out in accordance with legal provisions on international treaties and international agreements.
Which authority will receive đá bóng trực tiếp request for đá bóng trực tiếp application of bilateral APA from đá bóng trực tiếp taxpayer in Vietnam?
In accordance with Clause 4, Article 41 ofDecree 126/2020/ND-CPregarding đá bóng trực tiếp application of bilateral APA in tax management for enterprises with related-party transactions, as follows:
Application of advance pricing agreement mechanism for determining tax prices for enterprises with related-party transactions
...
4. đá bóng trực tiếp General Department of Taxation receives requests for APA application from taxpayers and proceeds to evaluate, negotiate with taxpayers (in đá bóng trực tiếp case of unilateral APA) or with partner tax authorities and taxpayers (in đá bóng trực tiếp case of bilateral or multilateral APA) regarding đá bóng trực tiếp APA content.
Thus,đá bóng trực tiếp General Department of Taxation is đá bóng trực tiếp authority that receives đá bóng trực tiếp request for đá bóng trực tiếp application of bilateral APA from taxpayers.
When does đá bóng trực tiếp bilateral APA come into effect in Vietnam? (Image from đá bóng trực tiếp Internet)
Vietnam: When does đá bóng trực tiếp bilateral APA come into effect?
As stipulated in Clause 7, Article 41 ofDecree 126/2020/ND-CPregarding đá bóng trực tiếp application of bilateral APA in tax management for enterprises with related-party transactions, as follows:
Application of advance pricing agreement mechanism for determining tax prices for enterprises with related-party transactions
...
7. đá bóng trực tiếp effective date of đá bóng trực tiếp APA is implemented according to đá bóng trực tiếp provisions of Clause 16, Article 3 of đá bóng trực tiếp Law on Tax Administration. For bilateral or multilateral APAs involving đá bóng trực tiếp foreign tax authority's tax management, đá bóng trực tiếp Ministry of Finance reports to đá bóng trực tiếp Government of Vietnam for consideration and decision.
Taxpayers applying đá bóng trực tiếp APA must declare đá bóng trực tiếp annual APA report for each tax year during đá bóng trực tiếp effective period of đá bóng trực tiếp signed APA according to Form No. 04/APA-BC in Appendix III issued together with this Decree, along with explanatory documents, and submit them with đá bóng trực tiếp corporate income tax finalization dossier.
In case of significant events during đá bóng trực tiếp implementation of đá bóng trực tiếp APA that affect its continuation or đá bóng trực tiếp production and business results and tax declarations of đá bóng trực tiếp taxpayer, đá bóng trực tiếp taxpayer must report to đá bóng trực tiếp tax authority within 30 days from đá bóng trực tiếp occurrence of such event (referred to as an extraordinary report).
Thus, đá bóng trực tiếp effective date of đá bóng trực tiếp bilateral APA is implemented according to đá bóng trực tiếp provisions of Clause 16, Article 3 of đá bóng trực tiếpLaw on Tax Administration 2019, specifically:
16. An advance pricing agreement is a written agreement between đá bóng trực tiếp tax authority and đá bóng trực tiếp taxpayer, or between đá bóng trực tiếp tax authority, đá bóng trực tiếp taxpayer, and đá bóng trực tiếp foreign tax authority, or territories with which Vietnam has signed agreements to avoid double taxation and prevent tax evasion with respect to income tax for a certain period of time, specifying đá bóng trực tiếp tax bases, đá bóng trực tiếp method of determining tax prices, or tax prices according to market prices. An advance pricing agreement is established before đá bóng trực tiếp taxpayer submits their tax return.
However,for bilateral APAs involving foreign tax authorities' tax management, đá bóng trực tiếp Ministry of Finance reports to đá bóng trực tiếp Government of Vietnam for consideration and decision.
* Note:
- Taxpayers applying đá bóng trực tiếp APA must declare đá bóng trực tiếp annual APA report for each tax year during đá bóng trực tiếp effective period of đá bóng trực tiếp signed APA according to Form No. 04/APA-BC in Appendix III issued together withDecree 126/2020/ND-CPalong with explanatory documents and submit them with đá bóng trực tiếp corporate income tax finalization dossier.
- In case significant events arise during đá bóng trực tiếp implementation of đá bóng trực tiếp APA affecting its continuation or đá bóng trực tiếp production and business results and tax declarations of đá bóng trực tiếp taxpayer, đá bóng trực tiếp taxpayer must report to đá bóng trực tiếp tax authority within 30 days from đá bóng trực tiếp occurrence of such event (referred to as an extraordinary report).
