On 24 February 2017, Vietnam Government has issued Decree No. 20/2017/ND-CP on tax administration with respect to enterprises that carry out related party transactions. This Decree takes effect from 01 May 2017 and regulations stated in this Decree shall replace ones in the Circular No. 66/2010/TT-BTC dated 22 April 2010 issued by Ministry of Finance to guide the determination of markets prices in business transactions between associated parties.
In general, Decree No. 20/2017/ND-CP has updated new guidelines of OECD and BEPS actions (Base Erosion and Profit Shifting Project).
In companion with Circular No. 66/2010/TT-BTC, there are significant differences in Decree No. 20/2017/ND-CP. Click here for our Summarization.