Trend in Transfer Pricing Audit/ Inspection in 2015 – Advancing development
Global Tax Update:June 2015/Vietnam
The Transfer Pricing (“TP”) audit/inspection landscape in Vietnam has become significantly more challenging in the past few years. During 2014, based on the public media, the tax authorities have conducted TP audit/inspection in 2,866 enterprises with indication of potentially high TP risks, increased by 80% compared to 2013. During the TP audits/inspections, tax authorities have made decision on the loss deduction of VND5.8 trillion and tax arrears of more than VND1.7 trillion. (Global Tax Update:June 2015/Vietnam)
In this tax newsletter, we will provide an overview of the recent development of TP audit/inspection, share recent scrutiny experience, discuss some related issues and also provide recommendations to the taxpayers.
(1) Specific list of target for TP audit/inspection in 2015
(2) Capabilities of TP auditors and resources
(3) Standard forms and information list used for TP audit/inspection purpose
(4) What taxpayers can do better?