In 2026, transfer pricing advisory services will no longer be merely a compliance procedure but will become a "strategic shield" helping businesses control related-party transaction risks in the current context. Decree 132/2020/ND-CP and updates from Decree 20/2025/ND-CP Enforcement is becoming increasingly stringent. At the same time, the operation of Global Minimum Tax Rate (Pillar Two) This is fundamentally changing how FDI businesses plan their taxes. This article provides expert perspectives on the new legal framework, analyzes the multifaceted impacts of Pillar Two, and offers practical transfer pricing consulting strategies to help businesses proactively prevent tax arrears, optimize tax obligations, and stand firm against increasingly stringent tax audits.
Overview of legal regulations on related-party transactions in Vietnam
In the context of an increasingly完善 and stringent legal framework, a thorough understanding of core regulations on related-party transactions is essential for businesses to implement effective transfer pricing strategies. The current focus revolves around Decree 132/2020/ND-CP and its important updates from Decree 20/2025/ND-CP, which create the legal framework defining all obligations regarding declaration, documentation, and tax risk control. To gain a clearer understanding, businesses need to delve into each specific regulation below.
Decree 132/2020/ND-CP on related-party transactions
Decree 132/2020/ND-CP (issued on November 5, 2020 and officially effective from December 20, 2020) remains the highest legal document regulating tax management for enterprises with related-party transactions. Accurately identifying related parties under Clause 2, Article 5 is the "foundation" of any documentation; therefore, enterprises need to closely coordinate with highly specialized transfer pricing consultants from the outset to correctly identify business relationships and avoid systemic errors that could lead to risks in tax assessment later.
Common criteria that cause businesses to fall into the trap of related-party transactions include:
- Ownership: One party directly or indirectly holds at least 25% of the other party's equity capital.
- Executive relationship: One business appoints members of the executive board or controls the financial decisions of another business.
- Debt Guarantee: A business guarantees or lends capital to another business in any form equal to at least 25% of its equity capital and accounting for over 50% of the total value of medium and long-term debts.
See details: The role of Decree 132/2020/ND-CP on related-party transactions.
The principle: Substance determines form.
The Vietnamese tax authorities have upgraded their audit system based on the principle of "Substance over Form." This means that no matter how tightly worded the contracts between related parties are, if the economic nature of the transaction does not correspond to the profits retained in Vietnam, the company's filing will still be rejected.
Because of this complex technical nature, attempting to handle the documentation yourself or using non-specialized personnel often leads to fatal flaws. Therefore, choosing a qualified professional is crucial. dịch vụ tư vấn giao dịch liên kết Securing the rights of businesses through organizations with extensive experience is a crucial factor in protecting their legitimate interests during rigorous inspections.
Global Minimum Tax Rate (Pillar Two): A New Variable in Transfer Pricing Advisory
The introduction of the Global Minimum Tax Rate (Pillar Two) not only changed the way taxes are calculated but also reshaped the entire transfer pricing advisory strategy of FDI enterprises. To understand the extent of the impact and develop effective response plans, businesses need to conduct in-depth analysis of each core component, from domestic supplementary tax mechanisms to the direct relationship between transfer pricing and the global effective tax rate.
Resolution 107/2023/QH15 and the pressure on FDI enterprises.
The introduction of Resolution No. 107/2023/QH15 (issued on November 29, 2023 and effective from January 1, 2024) has completely changed the game. The Minimum Domestic Taxation Mechanism (QDMTT) applies to corporations with consolidated global revenue of 750 million Euros or more, with a minimum effective tax rate (ETR) of 15%.
The dialectical relationship between transfer pricing and Pillar Two
Doanh nghiệp cần sự tư vấn từ các đơn vị chuyên môn để tính toán được điểm cân bằng giữa việc tuân thủ Nghị định 132 và việc tối ưu hóa nghĩa vụ thuế theo Pillar Two. Contact MAN – Master Accountant Network để được hỗ trợ và tư vấn chuyển giá chi tiết phù hợp cả luật nội địa và các quy tắc GloBE của OECD. Thấu hiểu sự khó khăn của doanh nghiệp khi chính sách thuế luôn thay đổi và cập nhật liên tục, đội ngũ chuyên gia chuyển giá của MAN luôn cập nhật, nghiên cứu để đưa ra giải pháp bảo vệ doanh nghiệp khỏi rủi ro bị đánh thuế trùng hoặc bị phạt do tính toán sai lệch.
To help businesses gain a systematic understanding and easily identify changes in the 2025–2026 period, the following is a comparison table between Decree 132/2020/ND-CP and the updated guidelines associated with Resolution 107/2023/QH15 and the Global Minimum Tax Rate (Pillar Two). This table not only clarifies the regulatory differences but also directly points out the practical impacts and urgent requirements for transfer pricing advisory activities in the new context.
| Criteria | Decree 132/2020/ND-CP | Updated 2025 – 2026 | Impact |
| Legal basis | This is the original document detailing the tax management regulations for related-party transactions. | Incorporate Resolution 107/2023/QH15 and new guidelines on global minimum tax rates. | Businesses need transfer pricing advice to synchronize their domestic reporting with their global consolidated reporting. |
| Control interest costs | Maximum 30% EBITDA. Allows carrying forward excess interest expense to a later period for up to 5 years. | Maintain the 30% level but tighten the method of calculating EBITDA based on actual audit data. | The requirements for calculating cash flow and planning borrowing are extremely stringent to avoid losing the deduction. |
| Comparative data management | Allows the use of data from the 35th to the 75th percentile. | The tax authorities prioritize using centralized data (Big Data) to directly cross-reference with business records. | Businesses must use copyrighted benchmarking data to avoid having their applications rejected. |
| Pillar Two | There are no specific regulations regarding the mechanism for additional taxes. | The domestic minimum tax (QDMTT) mechanism has officially come into operation. | This is the most important variable, changing the entire profit structure of large FDI enterprises. |
| Accountability | The explanation is based on the records compiled when an inspection is requested. | Transition to a self-declaration, self-calculation, and self-accountability mechanism with risk-based oversight. | The risk increases if a professional risk assessment (Health Check) is not performed before submission. |
No longer a matter of individual compliance, businesses are now forced to build a comprehensive strategy, connecting domestic data, consolidated reports, and global tax obligations. This requires businesses to consult highly specialized transfer pricing consultants who are knowledgeable and continuously updated on new tax policies to ensure valid documentation, proactively control risks, optimize profit structure, and be prepared to explain themselves in an increasingly data-driven and risk-based tax audit environment.
Details of professional transfer pricing consulting services
Để thiết lập một hệ thống phòng thủ thuế vững chắc, doanh nghiệp cần thực thi các hạng mục kỹ thuật chuyên sâu cùng với sự hỗ trợ từ các đơn vị tư vấn giao dịch liên kết tại TPHCM uy tín. Chi tiết các hạng mục bao gồm:
Establish a standardized three-tiered documentation system.
This isn't just about filling out forms; it's about "telling the story" of the corporation's cash flow through a tax lens.
- Local File: Focuses on in-depth analysis of transactions within Vietnamese entities. The emphasis is on functional, asset, and risk analysis (FAR Analysis) to demonstrate the reasonableness of retained earnings.
- Master File: Provides a comprehensive overview of the parent company's value chain, intellectual property structure, and internal financial arrangements, ensuring there are no conflicts with information in Vietnam.
- Country-by-Country Profit Reporting (CbCR): Designed for large MNEs, this report provides transparency regarding the allocation of revenue and income tax in each country where the business operates.
Quantitative Comparative Analysis (Benchmarking Study)
This is a key technical tool for determining the “Market Price” for related-party transactions:
- Access international databases: Use professional platforms such as Orbis (Bureau van Dijk) or Moody's Analytics to search for similar independent companies.
- Screening comparable entities: Applying strict exclusion criteria based on industry (Standard Industrial Classification – SIC), geographic market, and financial condition (no prolonged accumulated losses).
- Economic Adjustments: Making technical adjusting entries for working capital, inventory, or market risk to bring comparable entities to the same reference level as the business.
Periodic Risk Review and Inspection Support
Proactively identify loopholes before the Tax Authority discovers them:
- Review of interest expense: Checking compliance with the 30% EBITDA ceiling as per Article 15 of Decree 132/2020/ND-CP.
- Assessing the reasonableness of internal service fees: Demonstrate that corporate management fees and royalty fees genuinely provide economic benefits to the entity in Vietnam.
- Develop a justification script: Prepare strong technical arguments to defend your company's profit margin when facing a tax audit team on-site.
Businesses can refer to the details. chi phí lập hồ sơ giao dịch liên kết Visit MAN – Master Accountant Network to create a suitable budget plan.
Losing money and getting nothing in return with overly cheap transfer pricing consulting services.
During the peak tax filing season, with increased pressure to settle taxes, many unreliable and unqualified consulting firms have seized the opportunity as the deadline approaches. Numerous "ghost" firms have launched cheap service packages to attract businesses. However, sacrificing corporate security for a small saving in consulting fees can lead to financial disasters. Specifically, the following applies:
"Copying" documents and a lack of professional quality.
Most low-cost tax filing services do not conduct in-depth analysis of the specific business characteristics of the enterprise (FAR Analysis). Instead, they use pre-made forms and only change the business name, address, etc. This makes the filings unconvincing and lacking transparency, failing to explain the economic nature of the transactions and easily leading to rejection by the tax authorities in the first review round.
The benchmarking data is inaccurate and outdated.
Reputable and standardized transfer pricing advisory services will have access to high-quality and reliable comparative data sources such as Orbis and Moody's. Low-cost providers often use "junk" data, unofficially collected data, or outdated data. When tax authorities use Big Data systems for comparison, these discrepancies will serve as strong evidence for them to exercise their right to assess taxes.
Lack of updates on the Global Minimum Tax (Pillar Two)
Low-cost services often only go as far as creating basic local files. They completely ignore the impact of Resolution 107/2023/QH15. If the transfer pricing documentation is inconsistent with the parent company's Pillar Two report, the business will face the risk of being subject to additional tax collection in both Vietnam and the parent company's home country.
“"Abandoning" customers during the inspection and explanation phase.
The most serious consequence of using unreliable services is the lack of accountability when tax inspectors intervene. These agencies lack the expertise to argue with the inspection team, leaving businesses to face tax collection and late payment penalties amounting to tens of billions of dong alone. A poor-quality transfer pricing consulting report is the "shortest path" to having profits artificially assessed.
Why is MAN – Master Accountant Network a trusted partner?
Among countless service providers, MAN – Master Accountant Network asserts its leading position by offering comprehensive transfer pricing advisory solutions, combining practical experience with a modern data technology platform.
A team of highly qualified experts
At MAN, we have a team of experts with over 30 years of experience in the field of Taxation and Finance. This team includes not only Certified Public Accountants (CPAs) but also internationally certified professionals (ACCA) with in-depth knowledge of Vietnamese tax law as well as OECD international practices. This gives MAN a multifaceted perspective, combining technical data analysis with solid legal arguments.
Access to the international copyright database
MAN invests annually to maintain access to global enterprise data systems (such as Orbis and Moody's Analytics). This is the most important "weapon" for conducting standardized benchmarking, ensuring that the selected independent benchmarks are always highly reliable and difficult for the Tax Authority to refute.
Commitment to support throughout the inspection process.
MAN – Master Accountant Network is committed to supporting businesses from the planning and documentation stages to directly participating in explanations before inspection teams. We represent businesses to defend economic and technical arguments, ensuring that the risk of tax assessment is always kept to a minimum.
Conclude
The peak tax filing season for 2026 is fast approaching. Don't let small mistakes or the wrong choice of consulting firm ruin your group's business achievements. Contact MAN – Master Accountant Network for transfer pricing advice and support in developing a tax strategy for the coming years!
Contact information MAN – Master Accountant Network
- Address: No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City
- Mobile/Zalo: 0903 963 163 – 0903 428 622
- Email: man@man.net.vn
Content is moderated by: Mr. Le Hoang Tuyen – Founder & CEO of Man, CPA Vietnam Auditor with over 30 years of experience in Accounting, Auditing and Financial Consulting.
Câu hỏi thường gặp về tư vấn chuyển giá
Nghị định 20/2025/NĐ-CP siết chặt việc kiểm soát dữ liệu so sánh và phương pháp tính EBITDA. Việc cập nhật giúp doanh nghiệp đồng bộ hóa số liệu nội địa với báo cáo Thuế tối thiểu toàn cầu (Pillar Two), tránh rủi ro bị cơ quan Thuế bác bỏ hồ sơ do sai lệch thông tin hoặc sử dụng dữ liệu so sánh thiếu tin cậy, dẫn đến truy thu lớn.
Về cơ bản, các tiêu chí cốt lõi như sở hữu vốn (ít nhất 25%), quyền điều hành hoặc bảo lãnh nợ (trên 25% vốn góp và chiếm trên 50% tổng nợ) vẫn giữ nguyên theo Nghị định 132. Tuy nhiên, năm 2026, cơ quan Thuế tập trung mạnh vào bản chất kinh tế thay vì chỉ nhìn trên hợp đồng để xác định quan hệ liên kết thực tế.
Để được khấu trừ, doanh nghiệp phải chứng minh dịch vụ mang lại lợi ích kinh tế trực tiếp và mức phí tuân thủ nguyên tắc giá thị trường. Hồ sơ cần cung cấp bằng chứng về việc cung cấp dịch vụ thực tế, phương pháp phân bổ chi phí minh bạch và thực hiện phân tích FAR (Chức năng, Tài sản, Rủi ro) để bảo vệ tính hợp lý.
Khi hồ sơ bị bác bỏ, cơ quan Thuế có quyền ấn định lợi nhuận dựa trên dữ liệu ngành, thường cao hơn thực tế của doanh nghiệp. Điều này không chỉ dẫn đến truy thu thuế thu nhập doanh nghiệp và tiền phạt chậm nộp rất lớn, mà còn ảnh hưởng nghiêm trọng đến uy tín tuân thủ, dẫn đến việc bị thanh tra gắt gao trong nhiều năm kế tiếp.
Thuế tối thiểu toàn (Pillar Two) tạo ra mức thuế hiệu dụng tối thiểu 15%, làm giảm động lực chuyển lợi nhuận sang các quốc gia thuế suất thấp. Doanh nghiệp cần phối hợp giữa hồ sơ chuyển giá (Local File) và báo cáo QDMTT để đảm bảo lợi nhuận phân bổ tại Việt Nam tương xứng với hoạt động thực tế, tránh việc bị đánh thuế bổ sung ở cả hai quốc gia.Tại sao doanh nghiệp cần cập nhật hồ sơ chuyển giá theo Nghị định 20/2025/NĐ-CP?
Tiêu chí xác định bên liên kết theo quy định mới nhất có gì thay đổi không?
Làm thế nào để chứng minh phí dịch vụ nội bộ tập đoàn là hợp lệ?
Rủi ro lớn nhất khi doanh nghiệp bị ấn định tỷ suất lợi nhuận là gì?
Thuế tối thiểu toàn cầu ảnh hưởng thế nào đến chiến lược chuyển giá của MNEs?