Contacts

Other contents of the APA mechanism are implemented in accordance with the provisions of the Law on Tax Administration 38/2019/QH14 (“Law on Tax Administration”) dated 13 June 2019, Decree 132/2020/ND-CP (“Decree 132”) dated 05 November 2020 of the Government on tax administration for companies having transactions with their related parties, and other relevant legal documents. In comparison with the preceding regulations on APA (Circular 201/2013/TT-BTC (“Circular 201”) dated 20 December 2013), Circular 45 has the key changes summarized as below:
I. Covered transactions
Transactions to be covered by APA are the related-party transactions provided in Decree 132 and satisfy the following conditions simultaneously:
II. Principles for application of APA
III. APA appraisal, discussion and negotiation
IV. APA effectiveness
The effective period of a signed APA is a maximum of 3 tax years but not exceeding the number of years that taxpayer actually operates, declares and pays corporate income tax in Vietnam.
This Circular takes effect from 03 August 2021 and replace Circular 201. Official APA application submitted but not concluded and having covered period not ended before the implementation of this Circular, shall continue to be resolved in accordance with the Law on Tax Administration, Decree 126, and this Circular.
We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.
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