02/06/2017 – Thailand has become the 98th jurisdiction to join the Inclusive Framework on BEPS ("IF") and will participate on an equal footing with all other IF members at the next plenary meeting of the IF that will be held on 21-22 June 2017 in Noordwijk, the Netherlands.
The IF was established in January 2016, after the G20 Leaders urged the timely implementation of the BEPS package released in October 2015 and called on the OECD to develop a more inclusive framework with the involvement of interested non-G20 countries and jurisdictions, including developing economies.
Thailand's commitment to join the Inclusive Framework was communicated by His Excellency Mr. Apisak Tantivorawong, Minister of Finance of Thailand, during the first joint induction visit of the Inclusive Framework on BEPS and of the Global Forum on Transparency and Exchange of Information for Tax Purposes ("Global Forum"), held on 31 May – 2 June 2017 in Bangkok. Thailand became a member of the Global Forum in January 2017.
This on-site visit launched the first joint induction programme for the implementation of the international standards on exchange of information and of the BEPS measures. The programme will assist Thailand to implement new international tax standards with a focus on Country-by-Country Reporting and the other BEPS minimum standards, and the standards for exchange of information on request and for the automatic exchange of financial account information (the "Common Reporting Standard").
The full list of members of the IF can be found at: www.oecd.org/tax/beps/inclusive-framework-on-beps-composition.pdf.