This is a new regulation added to Decree No. 20/2025/ND-CP dated February 10, 2025 of the Government amending and supplementing a number of articles of Decree No. 132/2020/ND-CP dated November 5, 2020 regulating tax management for enterprises with related-party transactions. This Decree takes effect from March 27, 2025 and applies from the 2024 corporate income tax period.
Accordingly, Decree No. 20/2025/ND-CP supplements the responsibility of the State Bank to assist in providing information reported in accordance with the law on related persons of members of Board of Directors, members of Board of Members, members of Supervisory Board, General Director (Director), Deputy General Director (Deputy Director) and equivalent positions as prescribed in the Charter of the credit institution; related persons of shareholders owning 1% or more of the charter capital of the credit institution; affiliated companies of the credit institution according to the management data information system of the State Bank when requested by the tax authority.
Decree No. 20/2025/ND-CP also supplements points, clauses, and articles on related parties. The regulations have been revised to suit the actual situation and conditions of tax management of the activities of taxpayers...
Reported by Thanh Hong - Translated by Ngoc Huynh
