Legal News

[Taxation] Guidelines on Country-by-Country Reporting (CbCR) Filing Requirements in Dong Nai Province

2024/11/01

The Dong Nai Provincial Tax Department is requesting companies to submit country-by-country reports (CbCR). A country-by-country report is a document that shows a company’s revenue and tax payment status for each country. Based on Decree No. 132/2020/ND-CP dated November 5, 2020, and Official Letter No. 3279/TCT-CS dated July 29, 2024, from the General Department of Taxation, the Dong Nai Provincial Tax Department issued an official letter on October 4, 2024. If a company has a ultimate parent company in Vietnam, or if the ultimate parent company is located abroad and is required by the laws of its country of residence to prepare a CbCR, the company must submit this report by October 31, 2024, unless it meets the exemption criteria. If the exemption criteria are met, the taxpayer must submit an official letter stating the reasons to the Dong Nai Provincial Tax Department.

Other provincial and municipal tax authorities may issue similar notices in the near future, so it is important for each company to prepare to submit country-by-country reports and exemption official letters.
Once the ultimate parent company has prepared the CbCR, we recommend translating it into Vietnamese and submitting it.

References:
Official Letter No. 8754/CT-DON-KK