The Thai Official Gazette Aug. 15 published a ministerial regulation setting reporting procedures for tax information exchanges under DTAs. The regulation includes measures: 1) defining various relevant terms; 2) identifying entities and individuals responsible for reporting tax information, and those exempt from the duty to report; 3) clarifying essential elements of financial accounts operated by natural persons and legal entities, including of deposit accounts and asset custodian accounts; 4) clarifying which financial accounts are exempt from reporting, including retirement or pension accounts; 5) establishing rules for persons having controlling power of a legal entity and specifying guidelines for reporting of …
