On Policy to Promote Potential and Sustainability with the Trading Partners
To ensure that the Company has given a priority on building a good relationship and jointly developing the potential for sustainable supply chain management operation by communicating effectively with the trading partners regarding the integrated supply chain management, scheme for potential development, promotion, support and advance the partner companies to have good management together by upgrading the potential of trading partners through the sustainability, social and environmental assessment to achieve the maximum efficiency.
Scheme to Develop and Upgrade the Potential of the Trading Partners
1. For a new trading partner: The comprehensive assessment criteria to evaluate itself, social and environment issues such as
labor deployment, safety, and environment along with the signing for an acknowledgment of business ethics of trading partner.2. For existing partners: All new scheme operations for the trading partners to fill in a self-assessment form, social and the environment issues such as labor deployment, safety and environment along with the signing for an acknowledgement of business ethics of the trading partners.
In case of not achieving the evaluation criteria, the trading partners are required to plan for the adjustment of the operating methods with a clear timeline and report the successful results to the Company.
Performance Results
To conduct a follow-up and display the performance results of the potential and capability promotion of sustainable business operation with the trading partners on a regular basis in implementing a sustainable supply chain, social and environmental aspects to ensure that the trading partners have complied with the guidelines for trading partners.
The Company shall be strictly obligated to comply with the contracts, terms, agreements, obligations and liabilities that may arise or liabilities that have been incurred to the creditors by adhering to operate the business with the formality and discipline in order to build the credibility for the creditors by not concealing the information which may cause the damage to the creditors.
The Guidelines and Obligations to the Creditors
- The Company shall comply with the terms set forth to determine the rules for conducting business together and in the event that such terms are not able to comply with, the creditors shall be notified in order to find the solutions together.
- The Company shall mitigate the receipt or disposal of any benefits that are not in good faith in operating the business with the creditors in addition to the benefits according to the mutual business operating agreement.
- The Company shall report the debt obligations, financial information or relevant information that the creditors should know correctly, completely and on time to the creditors upon request.
- The Company shall give priority to the capital management, cash flow management and debt repayment by arranging a structure suitable for the business operation of the Company's business in order to maintain the credibility with the creditors.
- The Company shall act upon on equal and reasonable manner to be based on the receiving the rewards on equal and reasonable manner to both parties.
- The Company shall not participate in the creditors' activities that are contrary to their interests or are dishonest which may cause the damage to the Company.
Tax Policy
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
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
- 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
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.
- 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.
Business Innovation
THAITEX focuses on the development and promotion of corporate innovation to adjust and develop its business to be able to grow stably and sustainably, as well as to create value in the long term for the business and create value or benefit to customers or related parties. Therefore, the organization’s innovation development and promotion policy has been formulated as follows:
