On 21 November 2018, the Transfer Pricing Act of Thailand was published in the Royal Gazette and will be effective for accounting years beginning on or after 1 January 2019.
Taxpayers with related parties, regardless of having related-party transactions or the length of the relationship during an accounting period, are required to prepare a report providing descriptions of the related-party relationships and the value of related-party transactions.
Taxpayers with annual revenue of less than THB 200 million (US$6 million) are exempt from the above requirement.
