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Thailand Provides Penalty Relief for Late Submission of Annual Transfer Pricing Disclosure — Orbitax Tax News & Alerts

Thailand's Revenue Department is reportedly providing a reduction in the penalty for the late submission of the annual transfer pricing disclosure from THB 200,000 to THB 5,000, provided that the disclosure is submitted by 30 December 2020 through the E-Filing system.

The annual transfer pricing disclosure is due by the annual tax return deadline by taxpayers with THB 200 million. Because of the COVID-19 pandemic, a possible extension to 31 August 2020 was provided along with the extended corporate tax return deadline.