(ĐN)- Dong Nai Department of Taxation has recently announced the establishment of the Transfer Price Inspection Department with the aim of strengthening the fight against transfer pricing.
 |
| Transfer Price Inspection Department established in Dong Nai. |
(ĐN)- Dong Nai Department of Taxation has recently announced the establishment of the Transfer Price Inspection Department with the aim of strengthening the fight against transfer pricing.
This is one of the country’s first Transfer Price Inspection Departments. The Department plans to inspect between 10-20 foreign direct investment (FDI) enterprises with transfer pricing signs per year.
Dong Nai is now home to more than 1,000 FDI enterprises. Among them, many have posted up losses but annual revenues have surged 20-30% while their investment has expanded continuously.
In 2014, the province’s tax agencies intensified the fight against transfer pricing at the FIEs, which had constantly reported losses but still had expanded operations. Through inspections at five companies, the agencies collected tax arrears and fines worth over VND300 billion.
Reported by H.G
