During August 15-19, 2005, a Thai delegation led by Deputy Director-General Satit Rungkasiri and a Mongolian delegation led by Director General of General Department of National Taxation Mr. Luvsandash Zorig met in Ulaanbaatar, Mongolia to negotiate Double Taxation Agreement between Thailand and Mongolia. The negotiations were conducted in a spirit of friendship and mutual understanding. Both delegations have agreed on all articles in this first round of negotiations. The Thai-Mongolia DTA is expected to become effective in the near future.
Deputy Director-General Satit Rungkasiri said, Currently, the Revenue Department has already concluded double taxation agreement with 49 countries and all which are already effective. The double taxation agreements were concluded in order to alleviate double taxation on the same income in both countries, to increase competitiveness of business operators in Thailand and to increase business transaction with the treaty partners.