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Vietnam Draft Decree on Transfer Pricing

The Vietnamese Ministry of Finance is consulting on a draft decree to update the country's transfer pricing regulations. Some of the main aspects of the draft decree include:

  • The definition of related parties, including an increase in the direct or indirect ownership threshold from 20% to 25% and certain other changes;
  • Principles and procedures for comparative analysis;
  • The acceptable transfer pricing methods, which include:
    • Comparable uncontrolled price method;
    • Resale price method;
    • Cost plus method;
    • Comparable profit method;
    • Profit split method;
  • An interest expense deduction limit equal to 20% of EBITDA;
  • Principles for determining the deductible expenses for services provided between related parties;
  • Exemptions from preparing a transfer pricing report where related party transactions are only with parties in Vietnam that are subject to corporate income tax, and where revenue does not exceed VND50 billion and total related party transactions do not exceed VND 30 billion; and
  • The requirement that a transfer pricing report must be prepared by the deadline of the annual tax return, and must be submitted within 15 working days of request with a possible 15-day extension.

Click the following links for an English-language release on the draft decree and the text of the draft decree (Vietnamese language). An English language version of the draft decree is being prepared.

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