Andrea Godfrey
Partner
Head of Integrated International Tax
KPMG in Cambodia
Andrea Godfrey
Partner, Head of Integrated International Tax, KPMG in Cambodia
Andrea is a very experienced tax professional having worked in both practice and industry over a period of 35 years. She has a particular focus on global cross border transactions and projects working in the Infrastructure and Construction sector for 12 years and was part of the E&C sector leadership team in her previous role at EY UK&I.
Andrea has extensive experience in putting together teams to provide the most relevant expertise for clients needs and prides herself in being seen as a trusted advisor to her clients. She led the first large Corporate tax compliance outsourcing contract for EY UK&I utilizing and managing resource in the UK and India and building the basis for the development of the CIT compliance process. Andrea joined KPMG in Cambodia and Vietnam in November 2017 to enhance global delivery service of the tax practice working alongside highly experienced Cambodia and Vietnamese tax professionals in a rapidly evolving environment.
She took over the Global Mobility Services (GMS) team in October 2018, building the team and integrating into the Global GMS practice and was a Speaker on many related topics. Andrea moved to Cambodia in January 2024 to work with the international tax team bringing her experience in tax encompassing M&A, financing of major projects, permanent establishment and international supply chain risk including transfer pricing and tax compliance outsourcing projects.
Selected Experience:
So Dary
Partner
Head of Corporate Services
KPMG in Cambodia
So Dary
Partner, Head of Corporate Services, KPMG in Cambodia
Dary is a partner of a tax Practice, Corporate Services, Customs & Trading at KPMG in Cambodia. Dary has more than 18 years of experience advising and assisting clients to conduct trouble free business in Cambodia.
Dary has a diverse experience and works with clients across numerous business functions to ensure compliance with the laws and regulations in Cambodia. Dary oversees KPMG’s tax and corporate services and manages the delivery of a range of business solutions to clients which include:
- Taxes compliance and tax health check review
- Tax due diligence
- Tax advice on restructuring and tax planning strategy
- Accounting & Financial Management services
- Corporate governance and risk management
2025年7月8日
By Andrea Godfrey & So Dary, KPMG in Cambodia
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随着全球贸易紧张局势加剧，柬埔寨以出口为导向的经济正面临新一轮关税上调的压力，尤其是来自美国的举措。尽管外界普遍关注的是成本上升和竞争力下降等直接影响，专家们如今警告称，若企业未能迅速调整，将面临与转让定价（TP）相关的更深层次问题——以及税务争议风险日益上升的局面。
柬埔寨在全球供应链中的战略地位
柬埔寨已成为跨国公司在电子、服装和消费品等行业的重要制造中心。凭借强劲的出口基础以及日益融入全球价值链，该国对贸易政策的突然变化尤为敏感。
短期冲击 vs 长期转变
| 短期影响 | 长期考量 |
|---|---|
| 由于新关税导致的成本激增 | 供应链可能重组或转移 |
| 美国订单中断或利润率下降 | 市场多元化至非美地区 |
| 诸如加急出货或涨价等权宜之计 | 对再投资和新买家的需求 |
| 过时的转让定价安排 | 需要更新定价逻辑和相关文档 |
一个常见的例子是：柬埔寨子公司向其美国母公司销售产品。由于柬埔寨关税的实施，柬埔寨实体是否应降低价格以维持竞争力？还是由美国方面承担额外成本？无论选择哪种方式，都会影响利润及税务责任的归属。
为什么转让定价比以往任何时候都更重要
转让定价决定了不同国家关联实体之间利润的分配，正受到严格审查。关税减少了整体利润，柬埔寨及其他国家的税务机关都在密切关注这些利润的分配方式。
在柬埔寨，税务官员可能会质疑因关税导致利润率下降的出口商，特别是在缺乏支持性文件的情况下。如果外国税务机关持不同看法，企业可能面临双重征税——即同一收入在两个国家被重复征税的情况。
文档：第一道防线
近年来，柬埔寨税务机关已加大了对转让定价的审计力度。由于关税导致的利润下降或定价变化，将引发更加严格的审查。
企业应立即采取行动：
• 明确记录价格变动原因（例如，新关税、供应链变化）
• 进行情景分析，说明成本和利润的分配方式
• 考虑与主要贸易伙伴签订预先定价协议（APA），以锁定税务处理方式
柬埔寨出口商的实用步骤
| 行动 | 重要性解析 |
|---|---|
| 重新评估转让定价政策 | 与当前成本和利润压力保持一致 |
| 加强转让定价文件管理 | 避免争议，维护定价结构 |
| 监控全球关税变动 | 为未来成本和价格波动做好准备 |
| 探索双边预先定价协议（APA） | 降低双重征税风险 |
展望未来
柬埔寨融入全球贸易体系是一项优势，但也带来了脆弱性。随着地缘政治和经济不确定性加剧，出口商不仅要应对成本压力，还必须调整内部定价策略，以保持合规性和竞争力。