The Thai Revenue Department has published Notification No. 407 prescribing the required documentation for analyzing whether the terms of transactions between related parties are at arm's length (i.e., transfer pricing documentation). The notification is effective for accounting periods beginning on or after 1 January 2021. The required documentation is similar to the OECD Local file and includes the following, which must be prepared in the Thai language: Information on the taxpayer required to prepare documentation, including: the nature of the business, the management structure (Local Organization Chart) including the number of workers, the value chain including key trading partners and...