Vietnam releases formal APA regulations

Tax Controversy & Dispute Resolution ()
The Ministry of Finance (MoF) recently released Circular 201/2013/TT-BTC (Circular 201) providing formal guidance on the APA programme, including the APA framework, governance, process, roles, responsibilities and mutual expectations for taxpayers and the Vietnamese authorities in applying for, negotiating and executing APAs. Circular 201 will become effective from 5 February 2014 and is materially unchanged from the initial draft Circular which was issued for taxpayer comment and feedback (the draft Circular was summarised in our news alert dated 22 August 2013).