Yesterday afternoon, EuroCham hosted the 3rd session of its five Tax Tuesdays, welcoming over 160 attendees to discuss “Transfer Pricing and Double Tax Agreements”.
In this webinar session, we started with the introductory remarks by Mr. LY Tayseng, Co-Chairman of EuroCham Tax Committee and Managing Partner, HBS Law Firm & Notary Office. Subsequently, our first speaker Mr. Brendan JAMES LALOR, Director of Transfer Pricing Services, Ernst & Young provided our attendees with an insightful overview of Cambodia’s Transfer Pricing Regulations which include the arm’s lengthen principle, five TP methodologies endorsed by Prakas 986. He also pointed out the OECD’s guidance on financial transactions. Our second speaker Mr. Clint O’CONNELL, Partner & Head of the Cambodia Tax Practice Group at DFDL Legal and Tax Services, addressed the importance of Double Tax Agreements in reducing withholding taxes, identifying the thresholds for activities to create a taxable presence, providing a framework for resolving disputes and arbitration, and a mechanism for exchange of information between authorities. Lastly, he explained the MAP (Mutual Agreement Procedures) in resolving international tax disputes and common cases.
The session ended with a 30 minutes interactive panel discussion and live Q&A session with our participants. Thank you everyone for the great interaction and many interesting questions!
Our next ‘Tax Webinar’ will take place next Wednesday, 15 September from 3:00 PM – 5:00 PM, focusing on VAT & Special Taxes. Reserve your virtual seat now: https://bit.ly/3rEMYu7 (free for EuroCham members!)
