What is the purpose xem bóng đá trực tiếp trên youtube defining related-party transactions in Vietnam? What transactions are included in related-party transactions?
What is the purpose xem bóng đá trực tiếp trên youtube defining related-party transactions in Vietnam?
Based on Clause 13, Article 17 xem bóng đá trực tiếp trên youtube theLaw on Tax Administration 2019, the responsibilities xem bóng đá trực tiếp trên youtube taxpayers are prescribed as follows:
Responsibilities xem bóng đá trực tiếp trên youtube the taxpayer
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13. Taxpayers involved in related-party transactions are obliged to prepare, store, declare, and provide documentation xem bóng đá trực tiếp trên youtube information about the taxpayer and their related parties, including information about related parties residing in countries or territories outside xem bóng đá trực tiếp trên youtube Vietnam, in accordance with regulations xem bóng đá trực tiếp trên youtube the Government xem bóng đá trực tiếp trên youtube Vietnam.
Furthermore, Clause 5, Article 42 xem bóng đá trực tiếp trên youtube theLaw on Tax Administration 2019provides specific regulations on the principles xem bóng đá trực tiếp trên youtube tax declaration and calculation:
Principles xem bóng đá trực tiếp trên youtube tax declaration and calculation
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5. The principles xem bóng đá trực tiếp trên youtube declaring and determining taxable prices for related-party transactions are as follows:
a) Declare and determine related-party transaction prices based on the principle xem bóng đá trực tiếp trên youtube analysis, comparison with independent transactions, and the substance-over-form principle to determine tax obligations similar to conditions in independent transactions;
b) Related-party transaction prices are adjusted according to independent transactions to declare and determine tax payable ensuring not to reduce taxable income;
c) Taxpayers with a small scale or low tax risk are exempt from implementing requirements at points a and b xem bóng đá trực tiếp trên youtube this clause and are allowed to apply simplified procedures in declaring and determining related-party transaction prices.
6. Principles xem bóng đá trực tiếp trên youtube tax declaration for advance pricing agreement mechanisms are as follows:
a) Application xem bóng đá trực tiếp trên youtube advance pricing agreements is conducted at the request xem bóng đá trực tiếp trên youtube the taxpayer and agreed upon between the tax authority and taxpayer through unilateral, bilateral, and multilateral agreements involving the relevant foreign tax authorities;
b) Application must be based on taxpayer information, verifiable commercial databases ensuring legality;
c) Application must be approved by the Minister xem bóng đá trực tiếp trên youtube Finance before implementation, and bilateral or multilateral agreements involving foreign tax authorities are conducted in accordance with laws on international treaties and agreements.
Thus, the purpose xem bóng đá trực tiếp trên youtube defining related-party transactions is to eliminate factors that reduce the corporate income tax obligations.
Taxpayers involved in related-party transactions are obliged to prepare, store, declare, and provide documentation xem bóng đá trực tiếp trên youtube information about the taxpayer and their related parties, including information about related parties residing in countries or territories outside xem bóng đá trực tiếp trên youtube Vietnam.
- Declare and determine related-party transaction prices based on the principle xem bóng đá trực tiếp trên youtube analysis, comparison with independent transactions, and the substance-over-form principle to determine tax obligations as in conditions xem bóng đá trực tiếp trên youtube independent transactions.
- Related-party transaction prices are adjusted according to independent transactions to declare and determine tax payable ensuring not to reduce taxable income.
- Taxpayers with a small scale or low tax risk are allowed to apply simplified procedures in declaring and determining related-party transaction prices.
What is the purpose xem bóng đá trực tiếp trên youtube defining related-party transactions in Vietnam? What transactions are included in related-party transactions? (Image from the Internet)
What transactions are included in related-party transactions in Vietnam?
Based on Clause 2, Article 1 xem bóng đá trực tiếp trên youtubeDecree 132/2020/ND-CP, related-party transactions include:
- Transactions xem bóng đá trực tiếp trên youtube purchase, sale, exchange, lease, sublease, loan, lending, transfer, and assignment xem bóng đá trực tiếp trên youtube goods, provision xem bóng đá trực tiếp trên youtube services.
- Loans, lending, financial services, financial guarantees, and other financial instruments.
- Purchase, sale, exchange, lease, sublease, loan, lending, transfer, assignment xem bóng đá trực tiếp trên youtube tangible and intangible assets, and agreements for joint use xem bóng đá trực tiếp trên youtube resources such as assets, capital, labor, cost sharing among related parties, except for business transactions in goods and services under state-regulated prices, as per legal regulations on pricing.
What are the responsibilities xem bóng đá trực tiếp trên youtube taxpayers involved in related-party transactions in Vietnam?
According to Clause 13, Article 17 xem bóng đá trực tiếp trên youtube theLaw on Tax Administration 2019, the responsibilities xem bóng đá trực tiếp trên youtube taxpayers are prescribed as follows:
Responsibilities xem bóng đá trực tiếp trên youtube the taxpayer
1. Conduct taxpayer registration and use tax identification numbers according to legal regulations.
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13. Taxpayers involved in related-party transactions are obliged to prepare, store, declare, and provide documentation xem bóng đá trực tiếp trên youtube information about the taxpayer and their related parties, including information about related parties residing in countries or territories outside xem bóng đá trực tiếp trên youtube Vietnam, in accordance with regulations xem bóng đá trực tiếp trên youtube the Government xem bóng đá trực tiếp trên youtube Vietnam.
Thus, as per regulations, the responsibility xem bóng đá trực tiếp trên youtube taxpayers involved in related-party transactions is to prepare, store, declare, and provide documentation xem bóng đá trực tiếp trên youtube information about the taxpayer and their related parties, including information about related parties residing in countries or territories outside xem bóng đá trực tiếp trên youtube Vietnam, according to regulations xem bóng đá trực tiếp trên youtube the Government xem bóng đá trực tiếp trên youtube Vietnam.
