What are some of the rules and regulations surrounding transfer pricing in Vietnam?

According to Circular 66/2010/TT-BCT, the company needs to submit the transfer pricing declaration application together with its annual corporate income tax return. The company is also recommended to take any some significant steps so that they may be able to document their transfer pricing arrangements and documentation requirements. As a foreign company it is essential to ensure that you are in compliance with transfer pricing regulations. In fact, it is recommended that you use a professional service firm to complete the process as a foreign company may not be familiar with the regulations.