The Revenue Department of Thailand is set to enhance its efforts to combat transnational tax evasion through the exchange of financial information, according to its director-general, Lavaron Sangsnit. Thailand joined the Global Forum on Transparency and Exchange of Information for Tax Purposes in 2017 and has since been working towards adhering to international standards for tax cooperation.
The Convention on Mutual Administrative Assistance in Tax Matters (MAAC) is a multilateral treaty developed by the Organisation for Economic Co-operation and Development (OECD) and has 168 signatories as of March 2023. The framework promotes international cooperation and the exchange of tax information between countries, enabling tax authorities to effectively utilise the data.
There are three types of information exchanges under the MAAC:…
