Tax Strategies PCA International Group Limited

PCA International Group LTD (PCA-IG) Strategy for PCA Corporate Services and subsidiaries (PCA-CS) in Vietnam 2023

 

In accordance with PCA Code of Conduct and PCA IG Tax Principle Statements, the PCA Group strives to maintain the highest standards in complying with laws, rules, regulations, reporting and disclosures requirements. This also applies for tax matters.

 

PCA Corporate Services Limited is a member of the PCA International Group. This document summarizes the tax strategy of the entire PCA International Group of companies and in particular PCA Corporate Services Limited and complies with Inland Revenue Ordinance (IRO).

 

1. Commitment to Tax Compliance

PCA Corporate Services Limited keeps its financial accounts up-to-date, accurate and complete and records all business transactions fully and fairly in accordance with PCA IG Financial Reporting and Accounting Policy.

 

For PCA Corporate Services Limited, tax compliance means:

     

      • to conduct transactions with Group-internal and external business partners in a tax compliant way;

      • to submit tax filings and other disclosures to tax agencies in a timely and accurate way in accordance with applicable regulations; and

      • to pay all taxes due on time.

     

    PCA IG Headquarters monitors the increasing scope of international regulations e.g. the BEPS (Base Erosion and Profit Shifting) initiatives or EU Directives. The PCA Group is committed to achieving the highest compliance standards considering all national and international tax aspects. New international compliance parameters are being embraced by the PCA Group and applied in an expedited way.

     

    2. Tax Planning

    Pursuant to PCA Code of Conduct and PCA Tax Principle Statements, PCA Headquarters structures business transactions – including the flow of services – based on commercial rationale and business reasoning that are in accordance with applicable tax laws and regulations.

    PCA Corporate Services Limited operating business is structured in compliance with applicable tax regulations. If there are multiple options which provide equivalent business solutions and which comply with all applicable laws, the most tax efficient approach is suggested provided that the tax planning initiatives do not adversely impact the reputation of the PCA International Group.

    The PCA Group and PCA Corporate Services Limited do not make use of off-shore or other artificial structures disconnected from the actual business needs.

     

    3. Managing of Tax Risks

    Through an established system of internal accounting controls, PCA Corporate Services Limited follows applicable standards and robust internal processes and controls to identify, evaluate, manage and report tax risks.

    If the application of tax law is unclear, requires interpretation, or is beyond PCA Corporate Services Limited internal expertise, tax advice shall be obtained from external advisors including ruling from tax authorities and independent tax advisors. 

    PCA Corporate Services Limited is convinced that tax risks are best prevented by promoting tax knowledge and awareness and preventing unnecessary disputes by fostering an open and collaborative attitude towards tax authorities, government officials and other third parties. For this reason, PCA Corporate Services Limited, maintains open and collaborative conduct with the tax authorities and governmental bodies.

     

    4. Relationship with Vietnam and Hong Kong Inland Revenue Department

    PCA Corporate Services Limited cultivates an open, proactive and cooperative attitude towards the Vietnamese and the Hong Kong Inland Revenue Departments.

    PCA Corporate Services Limited is committed to making fair, accurate and timely disclosures in correspondence and tax returns, and to responding to queries in a timely manner and to providing all relevant information to enable tax authorities to carry out their review.

     

    Mr. NGUYỄN QUỐC TỨ
    CFO
    PCA Group