Thailand’s New Transfer Pricing Law Enacted
On 21 November 2018, the Revenue Code Amendment Act (No. 47) B.E. 2561 was published in the Royal Thai Government Gazette, amending the Thai Revenue Code (Revenue Code) by adding specific provisions regarding transfer pricing (Transfer Pricing Provisions). The Transfer Pricing Provisions will apply to revenue and expense recognition of associated enterprises for accounting periods starting on or after 1 January 2019.
By Praphan Phichaiwatkomol and Keerada Rungtanakiat © December 2018