2012 Bilateral Programme with the Revenue Department of Thailand

(2012. 4. 3 ~ 5, Phuket & Bangkok, Thailand)

□ The Tax Centre, OECD Korea Policy Centre hosted a Bilateral Programme with the    Revenue Department of Thailand (RDT) in April, 2012 in Phuket and Bangkok, Thailand.

ㅇ The Tax Centre hosted a two-day seminar (April 3-4, 2012) covering topics        of 'Principle of International Taxation based on OECD and UN Models,        Transfer Pricing Guidelines and Korea's International Tax Laws and Tax Cases'        in Graceland Hotel, Phuket. Around 30 tax officials including officials in        charge of international taxation from the RDT (Bangkok) and from Phuket Tax        Office participated in the seminar.

ㅇ High ranking officials from the Revenue Department of Thailand participated in the       Opening Session (April 3, 2012) including Dr. Satit Rungkasiri, Director General of the       RDT, and Director of the RDT, as well as Regional Director in Southern part of       Thailand.

□ Mr. Kim, Jong Yeul, Director General of the Tax Centre, OECD Korea Policy Centre      ㅇ In the opening remarks, Mr. Kim, Jong Yeul, Director General of the Tax Centre       expressed that he is pleased to have a Bilateral Programme in Thailand where there       are many participants who had been to OECD Tax seminars in Korea and stated that       the Bilateral Programme will be a great opportunity to strengthen cooperative       relations between Thailand and Korea.

□ Dr. Satit Rungkasiri, Director General of the Revenue Department of Thailand      ㅇ In the congratulatory remarks, Dr. Satit Rungkasiri, Director General of the RDT       mentioned that Thai officials made frequent visits to Korea to learn and experience       Korea's tax systems 20 years ago when Thailand was about to adopt value added       tax (VAT) system. He said that knowledge gained from Korea helped them to adopt       VAT system and develop tax systems successfully. Dr. Rugnkasiri also said about a       plan to visit Korea in the near future to learn about VAT-related e-filing system.       Moreover, he expressed his gratitude to the Korea Tax Centre, for hosting a Bilateral       Programme which is expected to promote job performances of Thai officials at the       RDT and to improve tax systems. Lastly, he asked to expand this kind of       cooperative projects in the future.

Hosted a Tax Seminar for Officials of the Revenue Department of Thailand

□ Renowned outside experts in the taxation fields were invited to give lectures on     International Taxation, Transfer Pricing Guidelines and Korean Tax Systems in the    seminar held in Phuket, Thailand.

□ Dr. Lee, Kwang Ho (Consultant at Samil PWC)

□ Dr. Lee, Kyoung Geun (Tax accountant at Yulchon)

□ Held a Closing Ceremony together with a Certificate Granting to    30 seminar participants from the RDT in April 4 (Wed.), 2012 (Granted a certificate    and a gift)

ㅇ Ms. Jidtar (Tax Policy Bureau, RDT), representative of the participants extended her       gratitude for providing an opportunity to learn about the latest theory of       international taxation and transfer pricing. Especially, she mentioned that it was       really instructive to learn about Coordination of International Tax Act and Korea's       cases, and expected that the lessons learned throughout the seminar days will be       very helpful in establishing Thai tax policies in the future.

□ Certificate Granting Ceremony

Hosted a KTC Family Local Reunion in Thailand and Meeting with Korean Investors/Businesses Leaders

□ Hosted a KTC Family Local Reunion in Thailand and a meeting with Korean investors/    business leaders in the evening of April 5th, 2012 in S31 Hotel, Bangkok

ㅇ Mr. Nirandara, (Senior Tax Specialist, RDT) delivered a presentation on Recent        Trends of International Taxation in Thailand for Korean investors/businesses.

□ Mr. Nirandara Prachuabmoh, Senior Tax Specialist of the Tax Policy Bureau, RDT

ㅇ Many participants joined together in the KTC Family Local Reunion in Thailand, ;       around 30 KTC Family members including Dr. Satit Rungkasiri, Director General of the       RDT, Mr. Wali M. Shaikh, Vice President of the KTC Family (Deputy Commissioner,       Inland Revenue, Pakistan), and around ten participants from the Korean Business       Circle in Thailand including Mr. Kim, Do Soon, Vice President of Korea Thailand       Chamber of Commerce, Financial Attaché of the Korean Embassy in Thailand and       relevant workers from Korean companies.

□ Mr. Kim, Jung Hong, Director of the Tax Centre, OECD Korea Policy Centre □ Mr. Wali Shaikh, Vice President of the KTC Family Alumni Association

ㅇ This reunion event ended in great success with an active participation by Thai        officials from the RDT including Dr. Rungkasiri, Director General and by Korean        investors/business leaders. Many Korean business leaders acquainted themselves        with Thai tax officials of the RDT and they evaluated that this event has been a        good opportunity for them to strengthen ties with the RDT. In the latter part of the        Reunion, many participants entertained themselves with songs and dances under        the karaoke melody.