Thailand: TRD updates advance pricing arrangements guidance
In October 2023, Thai Revenue Department (TRD) published updated guidance on advance pricing arrangements (APAs). The guidance on APAs has instructions and requirements for bilateral APAs. The update in the guidance mostly related to the
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OECD: Peer Review Report on Transparency and EOI in Thailand
On 8 November 2023 the Global Forum published a peer review report on Thailand's implementation of the standard on transparency and exchange of information. Thailand joined the Global Forum in 2017 and made efforts to establish the necessary legal
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Thailand approves reduced tax rate regime to counter global minimum tax rule effects
On 7 June 2023, the Board of Investment (BOI) of Thailand approved rules that introduces a reduced tax rate. The objective behind this regime is to address the repercussions of the implementation of the global minimum tax rule. Under this scheme,
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Thailand approves MCAA for automatic exchange of financial account information
On 30 March 2023, Thailand issued a royal decree to implement the Multilateral Competent Authority Agreement (MCAA) for the Automatic Exchange of Financial Account Information. The MCAA was signed by Thailand in July 2022 and allows for information
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Thailand approves to incorporate global minimum tax rule
On 7 March 2023, the Thai Cabinet approved measures to incorporate global minimum tax regulations as part of the base erosion and profit shifting (BEPS) 2.0 Pillar Two rules issued by the OECD. The Investment Board of Thailand has recommended these
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Thailand
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution mechanisms more effective) by Thailand was published by the OECD’s Inclusive Framework on 13 September 2022. The report notes
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Thailand: BEPS MLI in Force
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Thailand on 1 July 2022. With regard to the double taxation agreements between Thailand and other
See MoreThailand deposits BEPS MLI ratification instrument
On 31 March 2022, Thailand has deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Convention or MLI), which now covers over 1800 bilateral
See MoreThailand extends transfer pricing disclosure deadline
On 25 March 2022, in response to the COVID-19 pandemic, the Thai Minister of Finance has announced an extension the deadline for filing the transfer pricing disclosure form to 30 May 2022 for the fiscal years starting on or after 1 January 2020 to
See MoreThailand introduces new CbC reporting requirements
On 12 January 2022, the Thai Revenue Department has issued Notification No. 419 with following additional provisions to the CbC reporting requirements: For CbC reporting, the “reporting entity” must register for e-filing via one of two
See MoreThailand: Amendments to Tobacco Tax and Regulation
It was reported on 17 February 2022 that the Cabinet in Thailand has approved a five-year road map to reduce the level of tobacco consumption and improve overall public health by strategies that combine regulation, information and revised tobacco
See MoreOECD: Thailand, Vietnam, and Lesotho sign MLI
On 9 February 2022, Thailand, Lesotho, and Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Thailand’s MLI position identifies 58 double tax
See MoreThailand extends certain tax incentives
The government of Thailand has declared that it will extend the period of certain tax incentives for business located in the special economic development zones (SEZs) in Narathiwat province, Pattani province, Yala province, Songkhla province (only
See MoreThailand revises CbC reporting deadline
On 23 December 2021, the Thai Revenue Department has published a notification on amendments to the filing deadlines for Country-by-Country (CbC) reports. Previously CbC report filing deadline was as same as the annual tax return deadline,
See MoreThailand introduces CbC reporting
On 15 October 2021, the Thai Revenue Department released guidance concerning the transfer pricing requirements with regard to country-by-country (CbC) reporting for accounting periods beginning on or after 1 January 2021. The guidance is referred
See MoreThailand: New documentation requirement introduces Local file
On 30 September 2021, the Director-General of the Thai Revenue Department issued guidance Notification No. 407 regarding transfer pricing (TP) documentation requirements for the information and documentation for the Local file and exemption from
See MoreThailand extends tax refunds deadline in MAP cases
On 23 August 2021, the Ministry of Finance of Thailand has issued a notification that provides an extension of the deadline to request a corporate or individual income tax refund for certain eligible persons whose standard time to request a tax
See MoreThailand reduces WHT for payments made via electronic system
The Thai Revenue Department has issued instruction no. Taw.Paw. 336/2564 to extend withholding tax (WHT) reductions on certain types of income for payments made via the electronic withholding tax system. The reduction time was due to run from 1
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