Thailand Transfer Pricing Proposed New Law
Tax Insight | May 2015
On 7 May 2015, the Thailand Government approved a drafted Revenue Code Amendment Bill for the purposes of inserting new Transfer Pricing tax laws into the Revenue Code.
A summary of the Government's approval of the drafted Bill is as follows:
Drafted Revenue Code Amendment Bill for the new Transfer Pricing laws
The Revenue Code Amendment Bill adds new provisions in the Revenue Code that define the methods for determining transfer prices between companies or juristic partnerships in a related party relationship, provide Revenue officers with the power to adjust revenues and expenses, provide companies or juristic partnerships with rights to claim refunds of excess tax, and require companies or juristic partnerships in a related party relationship to submit information about their related party transactions, as per the following main principles:
This Tax Insight Article is general information only. It should not be used to determine any matter without consulting with an experienced Thailand tax advisor.