Taxation Policy
AP (Thailand) PCL and subsidiary ("the Company") adheres to always complies with the corporate governance policy and principles. The Company conducts business with transparency, realizes the duty and responsibilities regarding taxation to build confidence among stakeholders, to conform with the business strategy and goal. The strategic management criteria and related taxation policy are implemented as a development from operation. The Company also determines risk management procedures, including the measures to manage taxation risk.
Hence, to achieve such goal, the Company has determined the taxation policy as follows:
Tax Ethics
- The Company adheres to and complies with relevant laws, conducts business according to the standard and conforms to legal intention and provision.
- The Company refrains from using fraud taxation structure or inaccurate direction or the approach which intentionally leads to complexity for taxation benefits.
- Taxation system for corporate sustainability - the Company takes responsibilities to shareholders by being a company of good financial status and taxation that adds sustainable value to shareholders.
- The Company exercises taxation benefits in accordance with the law under the commitment to conduct business based on sustainability and integrity, being in conformity with the taxation system as set forth in the goal. However, taxation benefits may include the tax exemption occasionally or other benefits under government policy.
- With due respect to the government's right to determine taxation structure, taxation rate and taxation mechanism, the Company contacts and coordinates with related officers in the official taxation department to maintain relations and correct practice under the law.
Tax Risk Management
- Compliance with taxation procedures - the Company is committed to managing tax with responsibility, adheres and complies with related law and regulations. In case when the taxation law does not provide precise solution, the Company will use its prudent and transparent approach as a guideline for taxation matters.
- Moreover, the Company has in place the guidelines for filing for tax refund on time, correct and adequate.
- The Company has the income tax monitored and reported by an independent auditor. Current income tax and deferred income tax are presented correctly.
Tax Transparency
- AP Thailand emphasizes disclosing information adequately in accordance with the legal provision applied to all areas in which the Company conducts business.
- This also covers the information that leads to correct understanding on tax refund for the company and provision of requested information during the tax audit process. In such case, AP Thailand is confident that all documents are prepared and in accordance with the related taxation requirement.
Transparent to Stakeholders
- The Company ensure the transparent in our tax matters to ensure the stakeholders will acknowledge comprehensive information. It is our commitment to build the sustainable business operation and to emphasize the intention to enhance the transparency and continual disclosure of information.
- The Company is confident that the promotion and support to the economy have been progressed with transparent and reasonableness and our stakeholders and communities in which our business is running, comprehend and understand about such operation explicitly.
This shall become effective from 21 March 2023 onwards.
