Update from the Thai Revenue Department regarding the Transfer Pricing Disclosure Form

On 28 March 2022, the Thai Revenue Department (“TRD”) published a Notification of Ministry of Finance regarding TPDF filing deadline extension for FY 2020. Moreover, the TRD also recently issued additional explanation and Q&A for the Transfer Pricing Disclosure Form (“TPDF”) on its TRD website. We have summarised key points as follows: TPDF filing deadline extension […]

Internet services now subject to VAT in Thailand

The domestic tax legislation of most countries has been written from the standpoint that a business requires to be in the country and have a base from which to operate from in order to serve its customers. Such legislation never imagined that any company could be located in another country and sell to mass customers […]

Update on Country-by-Country Reporting Submission Deadline Extension and Channels

According to the Notification of the Director-General of the Thai Revenue Department (TRD) regarding Corporate Income Tax no. 408 dated 30 Sep 2021, Thai taxpayers who are a part of Multinational Enterprise (MNE) groups with total consolidated revenue of at least THB 28 billion are obliged to submit the Country-by-Country Report (CbCR) to the TRD […]

In step with BEPS transfer pricing rules

Thailand is currently going through a period of rapid improvement and development which is creating opportunities and benefits for foreign businesses. Improvements are being made in many areas, including changes to its tax laws to implement certain international tax standards. Notably, Thailand has adopted the OECD’s Inclusive Framework on ‘Base Erosion and Profit Shifting’ (BEPS) […]

International Tax Consulting in Thailand

Cross-border tax issues are under intense scrutiny by tax authorities around the world. Many tax authorities have enthusiastically participated in the OECD’s Base Erosion and Profit Shifting (BEPS) project. Corporate and individual taxpayers can be exposed to significant tax risks if they do not pay close attention to their tax arrangements.  Aggressive tax planning can […]

Transfer Pricing Consulting in Thailand

Transfer Pricing (TP) is an area of intense scrutiny by tax authorities around the world. Large Multinational Enterprises (MNEs) can be exposed to very significant tax risks if they do not pay close attention to TP. There can be significant risks of multiple taxation, fines and penalties for non-compliance, and large costs in dispute resolution. […]