Direct Tax Avoidance Agreements

Thailand

Article 26

EXCHANGE OF INFORMATION

1.      The competent authorities of the Contracting States shall exchange such information as is foreseeably relevant for carrying out the provisions of this Agreement or to the administration or enforcement of the domestic laws of the Contracting States or of their political subdivisions or local authorities concerning taxes covered by the Agreement insofar as the taxation there under is not contrary to the Agreement. The exchange of information is not restricted by Article 1.

2.     Any information  received  by  a  Contracting  State  shall  be  treated  as   secret in the same manner as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including  courts  and administrative  bodies)  concerned with the assessment or collection  of,  the enforcement or prosecution in respect of, or the determination of appeals in relation to, the taxes covered by the Agreement.  Such persons or authorities shall use the information only for such purposes.  They may disclose the information in public  court proceedings or in judicial decisions. Notwithstanding the foregoing, information  received by a Contracting State may be used for other purposes when such information may be used for such other purposes under the laws of both States and  the competent authority of the supplying State authorizes such use.

3.     In no case shall the provisions of paragraph 1 be construed so as to impose on a Contracting State the obligation:

(a)     to carry out administrative measures at variance with the laws   and administrative practice of that or of the other Contracting State;

(b) to supply information which is not obtainable under the laws or in the normal course of the administration of that or of the other Contracting State;

(c) to supply information which would disclose any trade,  business, industrial,  commercial or professional secret or trade  process, or information, the disclosure of which would be contrary to public policy (order public).

4.      If information is requested by a Contracting State in accordance with this Article, the other Contracting State shall use its information gathering measures to obtain the requested information, even though that other State may not need such information for its own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph 3 but in no case shall such limitations be construed to permit a Contracting State to decline to supply information solely because it has no domestic interest in such information.

5.      In no case shall the provisions of paragraph 3 be construed to permit a Contracting State to decline to supply information solely because the information is held by a bank, other financial institution, nominee or person acting in an agency or a fiduciary capacity or because it relates to ownership interests in a person.