Good Corporate Governance
Tax policy
Introduction
Bangkok Life Assurance Public Company Limited and its subsidiaries (hereinafter “the Group”) have tax guideline that complies with tax laws. The Group files and remits applicable taxes, as well as leverages resources within the Group both personnel and operating system to its highest efficiency for full compliance with tax laws.
Purpose
To ensure that the Group’s tax operations are standardized, transparent, fair and comply with good corporate governance and in line with applicable tax requirements, rules, regulations, laws and orders given by business regulatory agencies.
Scope
Personnel of Bangkok Life Assurance Public Company Limited and its subsidiaries who responsible related tax must acknowledge, understand and strictly adhere to this tax policy.
The tax policy has been established as follows :
- Manage taxes to the utmost benefit for the stakeholders by complying with the law, maintaining the good reputation and relationship between the Group and relevant government tax authorities.
- File tax remittance within the period prescribed by law, as well as manage tax payments or tax refunds to maximize liquidity for the Group.
- Set up responsible department for taxation which responsible for coordinating with relevant government tax authorities in order to establish good relationship and confidence with government agencies.
- In case of new transactions or complex transactions, the Group shall consider a plan, conduct research, consider tax impacts or discuss tax issues related to such transactions with the law firm or tax consultant in order to reduce any tax consequences and to comply with the law before conducting the transactions.
- Implement tax risk assessment so that operators are aware of their operations and review risk every year.
- Encourage the Group’s tax responsible person to attend training and always seek knowledge.
- Keep up with tax laws that are related to the group which are enforced and/or will be enforced in order to plan and consider the impact of laws on the Group.
Revision
The Company shall review this policy at least once a year or when there are material changes.
Approved in accordance with the resolution of the 6/2023 Board of Directors’ Meeting held on December 13, 2023
