On 7 May 2015, Thailand's Cabinet approved draft transfer pricing legislation on adjustments and documentation requirements, which would be the first formal legislation on transfer pricing in the country. Current transfer pricing rules are limited to guidelines and instructions to the country's tax officials including that related party transactions must be at arm's length and that both traditional transaction methods and transactional profit methods may be used.
Under the provisions of the draft legislation:
The draft legislation is subject to approval, which is expected late 2015 or early 2016. Additional details and guidance will be published once available.
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