Tax & Legal News Flash | Issue 30
After the public consultation and approval from the council of state (Krisdika), the Cabinet of Thailand has recently approved the draft transfer pricing law referring to the cabinet meeting on 3 January 2018. The recent draft has been revised to include additional requirements as outlined below:
For the next step, the draft transfer pricing law will be submitted to the parliament (i.e. national assembly legislator).
Pro-active preparation of robust transfer pricing analysis and documentation will be essential to manage the transfer pricing risks as well as discuss with the tax authorities on future proposed adjustments and reduced penalties.
KPMG professionals in the Transfer Pricing group advise multinational corporations investing inbound and Thai corporations investing outbound on transfer pricing solutions to their value chain issues. Our Transfer Pricing team is prepared to provide risk assessment reports in line with your global transfer pricing strategy to enable you to navigate through the complex and fast-changing transfer pricing environment resulting from the new regulatory changes in Thailand as well as to support you preparing transfer pricing documentation under the new requirements.
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