After two years of implementing Decree No.20/2017/ND-CP and Circular No.41/2017/TT-BTC, many Vietnam corporate taxpayers have had a harder time adjusting to new tax policies in transfer pricing and financial reporting requirements in tax finalization. Lacking of complying updating procedures causes significant back tax collection through the deemed tax processes and additional tax penalties.

Mr. Le Khanh Lam, Head of Tax and Consulting Services at RSM Vietnam has pointed out some misunderstandings of taxpayers and advised on how to record transactions of related parties.

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