2020 14 August

Thailand Tax Update: Preparing Your 2019 CIT? – Don’t Forget Your New TP Disclosure Form


As we come to the end of August, everyone should recall and be prepared to file their 2019 Annual CIT tax returns the deadline of which was extended by the Thai Government as part of the COVID relief measure implemented earlier this year.

This Client TP Flash is meant to serve as an important reminder that along with the filing of this year’s CIT tax returns the new Transfer Pricing Disclosure Form is required for the first time to be submitted along with the CIT return by August 31, 2020 for the 2019 tax filing year.

This form requires disclosure of certain information such as the following (subject to penalty on failure to file):

  • A listing of affiliated (related party) entities;
  • Disclosure of certain related party transactions; and
  • Certain Country-by-Country reporting information.

For Transfer Pricing documentation, it need not be prepared unless transaction thresholds of THB 200M have been met and then it should only be filed within the requisite period, upon request by the TRD. Failure to file as requested will also result in applications of penalties.

Additional details describing the form and the information to be disclosed can be found in our Legal and Tax Update “Thailand Tax Update: 2020 New Year – New Rules” released earlier this year. Should you have any questions regarding the filing of this report or the information to be disclosed, please contact us and we will be happy to provide our support and guidance with this first year filing process.

The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.

Key Contacts

Jack Sheehan
Head of Regional Tax Practice

Jonathan Blaine

Thailand Tax Director,
Head of Regional Compliance & Investigations

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