Tax Section - Doing Business
You will find here a series of summaries providing an overview of useful tax regulations, processes and tax issues for Doing Business in Thailand.
New Transfer-Pricing Law
On 21 November 2018, Amendment No. 47 to the Revenue Code in regard to transfer pricing was published in the Royal Gazette.
Reduced value-added tax rate (VAT) extended
The reduced value-added tax rate of 7% was set to expire after 30 September 2018, unless another law was passed extending it.
Significant changes to tax incentives
Thailand has been a participant in the inclusive framework on base erosion and profit shifting (BEPS) since 2017. Participating in the inclusive framework means that Thai laws must be reviewed by other member countries to ensure that they are adequately prepared.
Update on the draft transfer pricing law
In our tax update for August 2018, we noted that the government submitted a draft act amending the Revenue Code in regard to transfer pricing to the National Legislative Assembly for consideration. The National Legislative Assembly approved the draft transfer-pricing law on 27 September 2018, and the final law is expected to be enacted shortly.