The Thai government has completed its consultations on new transfer pricing legislation, and the legislation will now go to the National Assembly (parliament) for final approval. The legislation, which was first approved by the Thai Cabinet in May 2015 ({News-2015-05-13/P/4-previous coverage}), will serve to further formulize transfer pricing requirements in the country. Currently, general transfer pricing rules are provided through various provisions and guidelines. Specific transfer pricing provisions that will be introduced include: The tax authority will be explicitly allowed to adjust reported income or allowed deductions when it is determined that a related party transaction was not entered into...