Executive summary
Thailand’s Revenue Code Amendment Act (No.54) B.E. 2564 (2021) (the Amendment) was published in the Royal Gazette on 8 November 2021 (effective 9 November 2021), to accommodate the ratification process of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the MAC), which Thailand signed on 3 June 2020.
The MAC empowers tax officials to exchange tax information with other jurisdictions which are party to the MAC (MAC jurisdictions). As the next step, …