Thai Rubber Latex Group Public Company Limited and the Group of Companies (the “Company”) operate under the principle of making good use of resources to produce good products beyond international standards, as well as paying attention to ethical and transparent business practices and compliance with good corporate governance principles and taxpayer responsibilities, which are necessary for the development of the country and for economic growth. Therefore, in order to have strong tax management by being aware of the risks associated with direct and indirect taxes and complying with the Revenue C ode and other relevant laws, the Board of Directors has established tax compliance policies as follows:
1. Tax planning and practices
- To manage tax planning and taxation in accordance with relevant tax laws to maximize the country’s benefits.
- Properly and within the timeframe specified by applicable laws or regulations.
- Utilize tax benefits or exemption measures to maximize benefits for the Company under relevant requirements, including transparent disclosure to relevant government agencies or organizations.
- There is no investment policy or business operation in a tax-free country (Tax Haven) to avoid tax.
- Transfer pricing on trading transactions or services between each other is subject to market prices, typically to legal taxation.
2. Tax risk management
The company has a risk management structure. Define duties and responsibilities. It will consider various operations. Including discussing more and reporting to the management. According to the risks that occur appropriately. Focus on the practice to comply with the relevant rules or laws.
3. Tax liaison
- The company has managed to have a tax responsible person who has knowledge and skills in tax in providing advice on tax issues related to operations, compliance with tax laws, liaising with government agencies to provide accurate tax information according to the facts of business operations, as well as establishing relationships with relevant agencies and maintaining legitimate practices.
- Consider having an advisor or tax professional who provides knowledge and advice to internal tax personnel in order to operate in accordance with tax law.
4. Tax Transparency
The conduct of various communications, including the disclosure of information, is based on transparency, in accordance with the requirements of the principles of tax law and related matters.