The Organisation for Economic Co-operation and Development (OECD), in an update on 10 February 2025, has confirmed that Vietnam signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) on 3 January 2025.
Vietnam’s CbC reporting requirements have applied since 1 May 2017 for MNE groups with consolidated revenue above VND 18 trillion, with reports due within 12 months after the end of the 2020 fiscal year.
Under BEPS Action 13, all large multinational enterprises (MNEs) are required to prepare a country-by-country (CbC) report with aggregate data on the global allocation of income, profit, taxes paid and economic activity among tax jurisdictions in which they operate. This CbC report is shared with tax administrations in these jurisdictions for use in high-level transfer pricing and BEPS risk assessments.
CbC reporting (BEPS Action 13) is one of four BEPS minimum standards, which are subject to peer review to ensure timely and accurate implementation and safeguard the level playing field.
