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News Probe to target Thai steel sector tax evasion-The 18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
6/15/2017 steel expo-metal &metallurgy expo |
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Bangkok Post reported that Thailand Revenue Department is set to launch a tax evasion probe against steel-related companies nationwide to shore up revenue leakage and boost efficiency.
Mr Prasong Poontaneat director general of the Revenue Department said that the department will summon large downstream steelmakers to guide them on how to pay tax correctly so as to avoid accounting errors. For example, he said large steel producers might directly issue invoices on goods to upstream producers, bypassing middlemen and the Revenue Department, which cannot track the tax payment records of some small and mid-sized steelmakers.
Mr Prasong said that moreover, some steel producers may have forged their invoices altogether. The department intends to check the tax payment records of industry operators, from downstream to upstream.
He said that local steelmakers have already been shielded from dumping by Chinese steelmakers and are benefiting from state investment in infrastructure mega projects adding that steel trade value is expected to reach trillions of baht a year.
The Revenue Department''s latest move comes after Finance Minister Apisak Tantivorawong instructed the Revenue and Customs departments to improve their tax collection efficiency and stem loopholes used to avoid tax payments after their tax revenue target missed the mark by 50 billion baht for the eight months to May.
金属展-冶金展-2017广州巨浪国际金属暨冶金工业展览会-亚洲最大金属冶金展-巨浪展览-The
18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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