Update on the transfer-pricing disclosure form

Keywords: Mazars, Thailand, Tax,Transfer pricing, Disclosure form, Corporate income tax return, Revenue Department, CbCR

13 May 2022

1. those which are related parties, as defined in Section 71 bis of the Revenue Code; and
2. those having a total income of more than THB 200 million in their financial statements for that accounting period for which the annual corporate income tax return is filed.

As is the case with the annual corporate income tax return, the transfer-pricing disclosure form must be filed with the Revenue Department within 150 days (if filing on paper) or 158 days (if filing online) of the last day of the accounting period.

The information to be reported in the transfer-pricing disclosure form includes the following:

1. a list of related companies or legal partnerships conducting business both in and outside of Thailand;
2. the amount of transactions between the related parties in the accounting period; and
3. other information, such as:

• that related to business restructuring between the related parties in the accounting period (if any)
• the disposal of intangible property to related parties in the accounting period (if any)

For 2021, the Revenue Department has updated the section on other information to include the notification relating to the Country-by-Country Report (“CbCR”), as follows:

• Notify whether a company or legal partnership filing the transfer-pricing disclosure form is a part of a group of multinational companies or group of legal partnerships which is obliged to file a CbCR according to Notification of the Director-General of the Revenue Department on Income Tax No. 408 or not.
• If so, specify the name of the company or legal partnership in the group which is designated to file the CbCR, together with the country of filing.