Executive summaryThailand’s Revenue Code Amendment Act (No.54) B.E. 2564 (2021) (the Amendment) was published in the Royal Gazette on 8 November 2021 (effective 9 November 2021), to accommodate the ratification process of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the MAC), which Thailand signed on 3 June 2020. The MAC empowers tax officials to exchange tax information with other jurisdictions which are party to the MAC (MAC jurisdictions). As the next step, Thailand is expected to deposit the instrument of ratification during December 2021. With this development, Thailand is also expected to be removed from Annex II...