17. Thailand

Monetary threshold for LF preparation

• Applicable if annual revenue is THB 200 million or more.

• Transfer pricing disclosure form on related party transactions must be submitted with corporate income tax return.

• Local file must be submitted upon request from the Thai Revenue Department.

Preparation deadline

• Not applicable

Submission deadline

• Within 60 days of a request by the tax authorities (or within 180 days for the first request).

Language

• Thai language

Penalty

• A fine of up to THB 200,000 may be imposed for non-compliance.

  • Reference: Section 71 Bis and Section 71 Ter (Thai language)