Thailand 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
See MoreThailand: BOI approves measures to accelerate carbon reduction
The Thailand Board of Investment (BOI) approved incentives to encourage companies to reduce greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine
See MoreThailand extends CIT return filing deadline
The Thai Ministry of Finance (MOF) has extended the deadlines for electronic filing of corporate income tax (CIT) return in response to the Covid-19 pandemic. The corporate income tax return (PND 50, 52 and 55), financial statements and the
See MoreThailand extends deadline for corporate income tax return
On 30 April 2021, the Thai Ministry of Finance announced an extension of the deadline for filing the annual corporate income tax return (PND.50) and for paying the related tax to 30 June 2021 from May 2021 in response to the Covid-19 pandemic. The
See MoreThailand requires TP disclosure form to be submitted electronically
On 14 January 2021, the Revenue Department of Thailand has published a notice making it mandatory for companies to submit their transfer pricing (TP) disclosure forms via the Revenue Department's website or the Ministry of Finance's electronic tax
See MoreThailand: Tax authority prolongs e-Filing deadline extension for 3 more years
On 15 January 2021, the Thai Ministry of Finance announced that the deadlines of the e-Filing and electronic tax payment will be extended for 8 more days, after the tax filing deadlines specified by the law. The extension will be effective for 3
See MoreThailand extends deadline for e-Filing
On 15 December 2020, the Thai Revenue Department has published a Notice declaring an extension of the 8-day grace period for electronic filing and payment. Generally, the Thai Revenue Department has been providing the 8-day additional time
See MoreThailand declares incentives to increase investment and promote digital adoption
21 December 2020, the Thailand Board of Investment (BOI) approved a series of measures to accelerate investments, particularly in target industries and to encourage business to adopt digital technologies. "The package to promote large scale
See MoreThailand publishes new transfer pricing regulation
On 6 November 2020, Mr. Apisak Tantivorawong, the Minister of Finance issued Ministerial Regulation No. 369, published in the official bulletin 2556. The regulation sets basic rules to be followed by the tax authority when evaluating transactions
See MoreThailand declares penalty relief for transfer pricing disclosure forms in response to Covid-19 pandemic
The Revenue Department of Thailand declared a reduction of the penalty from THB 200,000 to THB 5,000 for late submissions of the transfer pricing (TP) disclosure form due to Covid-19 pandemic. The reduced penalty is available for disclosure
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