The Thailand Revenue Department (TRD) has published a new transfer pricing (TP) form for taxpayers with revenue of THB 200 million, effective as of 1/1/19 and due by May 29, 2020 for calendar-year taxpayers. The form delineates different forms of intercompany transactions for separate disclosure.
The disclosure form will be used for TP analysis and potential audits.
This risk analysis technique is becoming more the norm for countries, vs. trying to review the tax return for which such information is not readily apparent.
Accordingly, the tax return review process, via regionally, globally or external advisors, should be reviewed to ensure this form is prepared in advance with the relevant governing controls for accuracy.