Dispute Resolution and Controversy Services kpmg.com.vn

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1 TAX Dispute Resolution and Controversy Services kpmg.com.vn

2 Dealing with tax disputes can mean uncertainty and complexity. KPMG has the experience to help you take control of the dispute resolution process. We get effective results. Locally. Globally.

3 Set your strategy. Take control. Get results. Tax authorities worldwide and in Vietnam are under increasing pressure to generate revenue, causing a rise in tax audit activity across all taxing jurisdictions and all types of tax. Particular uncertainty can arise as global businesses seek to access new and developing markets where the local tax environment may be unfamiliar and could be extremely unpredictable. This pressure on tax authorities is resulting in more investigation, larger adjustments, and increased potential for penalties and interest. Wherever you do business, it s important to approach your tax matters proactively and be ready to respond if and when a local tax investigation begins. KPMG s Dispute Resolution & Controversy professionals can help you prepare to manage any tax authority challenge that comes your way. For any business or person preparing for or facing a tax audit, appropriate strategies for response and compliance are critical. Without a plan of action for resolving potential tax disputes, uncertainty, inefficiency and lost opportunities can result. When your organisation finds itself under the tax collector s microscope, will you be ready to take control and manage the tax controversy and resolution process toward its best possible end? What protocols do you have in place to actively manage and address tax risk to avoid future tax disputes and exposures? Have you proactively and thoroughly documented your tax transactions and uncertain tax positions? Are your analyses of your tax positions well stated, complete and supported by relevant documentation? Have you formulated a broad ranging strategy for engaging with the tax authorities in order to resolve disputed or controversial tax issues? Do you have a clear picture of possible resolution scenarios, whether by negotiated resolution or by formal appeals, of disputed tax issues? Do you know your options for dealing with a number of open enquiries strategically rather than on a piecemeal basis? Are you engaging with the tax authorities in the most effective way? Have you considered the impact of your resolution on your tax positions in all affected business activities and transactions? KPMG s Dispute Resolution & Controversy network helps corporate and individual taxpayers protect against, prepare for, and respond to challenges by the various tax authorities. Our professionals are experienced in all stages of the tax dispute continuum - from pre-transaction analysis and documentation to closing the file on items in dispute. We work with you to help lessen the likelihood of a challenge or audit before a dispute arises and to resolve those matters that ultimately become the subject of a dispute. Whether your tax issues involve income taxes, transfer pricing, indirect taxes or other taxes, KPMG s Dispute Resolution & Controversy Services can help. Our professionals have a deep understanding, based on practical experience, of how best to approach resolution of large, complex tax disputes. KPMG can assist in achieving certainty on disputed tax issues quickly and efficiently and in a way that can help build an effective and respectful relationship with the tax authorities. We work with you to help lessen the likelihood of a challenge or audit before a dispute arises and to resolve those matters that ultimately become the subject of a dispute. Dispute Resolution and Controversy Services 1

4 Protect. Manage. Resolve. KPMG has extensive knowledge of tax controversy matters that can help you prepare for and defend against challenges by the tax authorities. KPMG s Dispute Resolution & Controversy professionals help clients win control over the uncertainty inherent in tax disputes. Our approach is designed to cut through the complexity of dealing with tax disputes through effective strategies. Our clients include large and foreign invested enterprises and Vietnamese enterprises, as well as medium-sized enterprises. We also work together with other tax, accounting and legal firms to serve their clients with high quality tax and dispute resolution advice. Leveraging our network s collective knowledge and strong relationships with tax authorities, we employ extensive technical understanding and local experience to help clients achieve the best outcome. Our teams also work together locally and globally to help ensure consistency across borders and to gain strong results from a worldwide perspective across the tax dispute continuum. The Tax Dispute Continuum KPMG s approach Transaction planning and tax reporting Tax audits and queries Tax dispute and controversy process Obtaining technical rulings, opinions, clearances and waivers in advance of your transactions Preparing documentation and files to support tax position in anticipation of future tax authority requests for information Navigating voluntary disclosure, advance compliance and other tax authority programmes Negotiating audits, responses to audit queries, and administrative appeals Responding to tax authority demands for information or documentation Engaging with the tax authority to agree on a project-based approach to progressing issues collaboratively Working with senior officials to help ensure stated tax administrative policies and procedures are followed. Making informed decisions on preferred options for resolving difficult disputes Helping finalise settlements and ensure appropriate documentation in collaboration with the tax authority Managing the tax dispute resolution process in a nonconfrontational and effective manner. EFFECTIVE RESULTS. LOCALLY. GLOBALLY. PROTECT. MANAGE. RESOLVE. 2 Dispute Resolution and Controversy Services

5 Effective results. Locally. Globally. Our coordinated approach to resolving local and global tax matters through our global network of dispute resolution professionals can help produce significant benefits, including: Refunds of overpaid taxes Certainty over tax filing positions, allowing for the release of unneeded tax reserves and providing assurance on the availability of tax attributes and tax credit incentives Reduced compliance costs, freeing your in-house tax professionals for more value-adding work More effective working relationships and reduced risk profiles with local tax authorities, potentially easing future tax audit coverage Improved reputation with internal and external stakeholders. With our forward thinking outlook, we will work with you to help ensure that local dispute resolution influences positive outcomes in other operational regions. We can also help your organisation identify, improve and benchmark the risk management aspects of its taxes, in Vietnam and on a worldwide basis. Because of our experience with the Vietnamese tax authorities, we can effectively anticipate their issues and concerns before they raise them. Local knowledge. Practical experience. Global reach. Whether you need advice on tax compliance, managing tax risk, driving tax performance or tax dispute management and resolution, KPMG s Dispute Resolution & Controversy network can help. Our Dispute Resolution & Controversy professionals have years of experience and extensive knowledge in numerous key industries and sectors. In documenting your position, presenting your position to the tax authorities, resolving your matter where practicable, we can draw on the broader knowledge of KPMG s global network of professionals, including those with specialty practices in various fields such as financial services, real estate, petroleum, and pharmaceuticals etc. Because of our experience with the Vietnamese tax authorities, we can effectively anticipate their issues and concerns before they raise them. Our long standing professional relationships and experience in dealing with government and regulatory bodies helps us to represent you efficiently and effectively. Dispute Resolution and Controversy Services 3

6 How can KPMG help? Successful outcomes are a journey and the result of having the right people with the right knowledge along every step of the way. Our team of specialists has extensive experience in assisting clients resolve tax disputes whilst maintaining an effective working relationship with tax authorities on your behalf. We can assist clients throughout the entire process by providing advice in all areas of taxation, from tax audit preparation right through to appeals to the highest tax authority. Pre tax audit preparation Our tax professionals review the tax authorities requests of records and information required for their tax audit, advise and assist in the preparation and presentation of such records and information to the tax auditors in the best possible form which can minimise scrutiny, risks of non-compliance and penalties. This helps prepare your business in advance of a tax audit and can likely prevent a dispute. Onsite tax audit support Our tax professionals participate in the presentation of the requested information to the tax auditors and advise the appropriate responses to queries raised by the tax auditors. This service enables your company s finance personnel in having prompt access to our professional expertise and support when they face tax issues which require immediate responses to the tax auditors. This helps prevent minor tax issues becoming major disputes. Post tax audit review Upon completion of a tax audit, the tax auditors often release a report colloquially referred to as Draft Tax Audit Minutes, in which compliance issues are recorded and tax adjustments are made. Our tax professionals review and comment on this report, recommend the appropriate responses. This helps you make an informed decision on possible outcomes that may be achieved either through negotiation or formal appeal. Tax dispute resolution & controversy services KPMG s tax controversy services consist of a range of services including tax rulings, tax audit appeal and industry advocacy. Tax rulings - where there are areas of uncertainty in the application or interpretation of tax laws and regulations, we can assist in making a request to the relevant tax authorities for their clarification or confirmation of a certain tax treatment or position in respect of past or contemplated transactions. Tax audit appeal - where issues remain unresolved at the end of a tax audit, we can assist in addressing such issues through the tax administrative appeal hierarchy beginning with the local provincial tax department, or escalating to the national General Department of Taxation (GDT) and/or the Ministry of Finance. Industry advocacy where certain tax policies present adverse impacts to an industry or business sector, we can represent a group of affected companies or the industry to petition to the tax authorities for their review of such policies and making appropriate changes. 4 Dispute Resolution and Controversy Services

7 Why KPMG? We know the right questions to ask. KPMG s highly trained professionals have years of experience working with tax authorities and in private practice. We help you choose and develop an appropriate resolution strategy. Regardless of the situation, we can help you effectively handle your tax dispute. KPMG s services can help you reduce costs and save time. By identifying potentially contentious issues early in the process, we can save you time and money. We can leverage resources from around the world to assist in multi-jurisdictional tax controversies. As a full-service provider, we re with you from start to finish. You can rely on KPMG to deliver robust and meaningful guidance and work with you to help determine the optimal resolution of the taxation challenges confronting your organisation. When facing a tax dispute, experience counts. Dispute Resolution and Controversy Services 5

8 Contact us For more information about how KPMG can help your business manage and resolve tax disputes efficiently and effectively, please contact our Dispute Resolution & Controversy professionals below: Nam Nguyen Partner - Tax & Corporate Services Head of Tax Dispute Resolution & Controversy Services T: (ext. 8199) E: namnguyen@kpmg.com.vn Nguyen Thu Huong Director - Tax & Corporate Services T: (ext. 6418) E: hnguyen52@kpmg.com.vn KPMG Limited Ho Chi Minh City 10th Floor, Sun Wah Tower 115 Nguyen Hue Street District 1, Vietnam Tel: Fax: kpmghcmc@kpmg.com.vn Hanoi 16th Floor, Pacific Place 83B Ly Thuong Kiet Street Hoan Kiem District, Vietnam Tel: Fax: kpmghanoi@kpmg.com.vn kpmg.com.vn The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation KPMG Limited, a Vietnamese limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks or trademarks of KPMG International Cooperative ( KPMG International ). TAXDR&C