Revenue Department Reduces Fines for Late Submission of Disclosure Form

Revenue Department Reduces Fines for Late Submission of Disclosure Form

MPG  would like to share a recent update on “Revenue Department Reduces Fines for Late Submission of Disclosure Form.”  On September 9th, 2020, the Revenue Department announced a reduction in fines for businesses who submit the Transfer Pricing Disclosure Form after the extended August 31st deadline.

Businesses who exceed the deadline were previously subject to a fine of 200,000 baht; presently, they will be required to pay a fine of only 5,000 baht. The Disclosure Form must be filed online via the Revenue Department’s e-filing system by December 30th, 2020.

Please read the full updates HERE