On 7 January 2019, Bloomberg published an article that was co-authored by Jack Sheehan (Partner; Regional Head of the Tax Practice Group), Jonathan Blaine (Tax Director) and Patipan Kongviriyagit (Senior Tax Manager) on Seven Aspects of Transfer Pricing in Thailand.
The article focuses on Thailand’s new transfer pricing law that entered into effect on 1 January 2019 and adopts internationally recognized standards for transfer pricing and provides a clearer application of transfer pricing rules for both Thai inbound and outbound investment. As Thailand seeks to continue and solidify its transformation into an advanced economy and regional investment hub, this new law forms part of a wider effort that Thailand is implementing to overhaul its legislation. This law now provides for stringent transfer pricing documentation requirements, sets firmer penalties for non-compliant companies, and brings Thailand more firmly into line with international tax regulations and norms.
Click here to read the full article.
Partner and Head of Regional Tax Practice
Tax Director, DFDL Thailand
Senior Tax Manager, DFDL Thailand