Thailand Transfer Pricing Proposed New Law
Tax Insight | May 2015
On 7 May 2015, the Thailand Government approved a draft Revenue Code Amendment Act for inserting new Transfer Pricing laws into the Revenue Code. A summary of what the Government approved is as follows:
Draft Revenue Code Amendment Act for new Transfer Pricing Laws
The draft Revenue Code Amendment Act adds new provisions, which define the methods for determining transfer prices between corporate entities in a related party relationship, provide the Revenue officers with the power to adjust revenues and expenses, provide corporate entities with the right to claim refunds of tax for adjustments that cause a double tax burden, and require corporate entities in a related party relationship to file information about their related party transactions, as per the following main principles:
This Tax Insight is general information only. It should not be used to determine any particular matter without consulting with an experienced Thailand tax advisor.