Thailand’s Council of Ministers approved a letter of intent to sign the Multilateral Convention for the Pillar Two Subject-to-Tax Rule (STTR MLI), according to a government release on 27 August 2024.
Thailand’s finance minister is expected to sign the letter of intent, the signing ceremony is set to take place on 19 September 2024.
The STTR MLI will expedite the implementation of the Subject-to-Tax Rule (STTR), which was created under Action 1 of the BEPS project as part of the Two-Pillar Solution to tackle the tax challenges posed by the digitalisation of the global economy.
The STTR MLI, adopted by the OECD Inclusive Framework on Base Erosion and Profit Shifting last September and open for signature since October 2023, aims to simplify the implementation of the subject-to-tax rule in bilateral tax treaties.
