DFDL Cambodia Hosts a Strategic Sharing Session on Transfer Pricing
On 5 March 2019, DFDL hosted a Transfer Pricing Seminar: “A Strategic Sharing Session” in Phnom Penh, Cambodia. The morning event focused on recent transfer pricing developments, including market interest rates, the new documentation requirements, and audits.
Our expert speakers provided critical guidance and clarification for taxpayers on their duties and obligations under the transfer pricing regulations.
We were honored to have as our special speaker at this event Mr. Traing Lay – Chief of the APA and Transfer Pricing Bureau from the General Department of Taxation, Cambodia.
DFDL Partner & Head of Regional Accounting Advisory Practice Group, Sokheng Say welcomed all participants to the event and opened the proceedings.
Steven Carey & Eu-Kim Chan, Regional Transfer Pricing experts, discussed best practice risk and compliance strategies for transfer pricing in Cambodia, introduced the key concepts, explained why it is so important, methods of implementation, and outlined a risk and action plan.
This was followed by Mr. Traing Lay who provided an overview of the current Cambodian Transfer Pricing regime, presenting the general provisions, core principles, and the primary methods of allocating income and expenses among related parties.
The session was well received by the over 90 participants in attendance and concluded with an engaging Q&A session where participants asked questions of and held illuminating exchanges with senior tax officials on the key transfer pricing issues of concern.
DFDL is excited to extend an invitation to what we believe will be a very informative session on the Cambodian transfer pricing requirements that were introduced in October 2017. The seminar will have an emphasis on recent transfer pricing developments, including market interest rates, documentation requirements and audits.
We are honored to have as our special speaker at this event Mr. Traing Lay – Chief of the APA and Transfer Pricing Bureau of the General Department of Taxation, Cambodia.
Mr. Traing Lay will be joined by Regional Transfer Pricing Expert Mr. Steven Carey and DFDL Head of Cambodia Tax Practice, Mr. Clint O’Connell.
The purpose of this seminar is to provide guidance and clarification for taxpayers in Cambodia regarding their obligations under the transfer pricing regulations. By bringing together senior officials from the General Department of Taxation and both Cambodian and regional tax experts, this is a truly unique opportunity to hear from both the tax department and the private sector regarding the application and implementation of this important area of tax.
A panel discussion and Q&A session will follow the presentations where you will have the opportunity to ask questions and engage with senior tax officials and leading tax advisers on the important transfer pricing concerns highlighted at this event.
As places are limited, be sure to register as soon as possible.
Topics to be covered:
- Transfer pricing overview
- Recent updates on transfer pricing in Cambodia
- Accepted transfer pricing approaches for common and high risk transactions:
- Services fees (e.g. management services, development services, marketing services)
- Royalties for intangibles (e.g. trademark fees or know how)
- Intercompany loans
- Property leases
- Implementation tips (e.g. calculating cost bases, preparing legal agreements)
- Transfer pricing in the region – lessons from Vietnam, China, Indonesia
- Timeframe for setting up transfer pricing policy, preparing documentation and completing the annual TP declaration form
Date: Tuesday, 5 March 2019
Time: 8:00 am – 11:30 am
Venue: Rosewood Hotel, Salon I
If you have any questions or require further information, please do not hesitate to contact us: firstname.lastname@example.org.
*For any cancellation, please inform us by way of e-mail before 2pm on 28 February 2019.
Chief of APA and Transfer Pricing Bureau Department Department of Enterprise Audit, General Department of Taxation
Mr. Steven Carey
Managing Director, Duff & Phelps
Mr. Clint O’Connell
Partner & Head of Tax Practice Group, DFDL Cambodia