Tax policy and tax rates

The Company adheres to compliance with tax laws and tax risk management. The Company recognizes the importance of being a responsible taxpayer and paying taxes correctly and appropriately. It emphasizes demonstrating social responsibility, which is a key element in driving the Company’s business growth and creating sustainable value for its stakeholders.

The Company has established tax policies in line with its corporate governance policy and operational risk management framework, covering risk definition, assessment, monitoring, management and control. The Company’s units are directly responsible for managing the operational risks within their respective areas and setting measures to manage and monitor these risks to an acceptable level by allocating appropriate resources and fostering a culture of operational risk management within the Company.

Tax Policies for Sustainability

TPI Polene Power Public Company Limited is committed to conducting business sustainably, considering economic, social, and environmental impacts to support the Sustainable Development Goals. The Company recognizes the importance of complying with tax laws and regulations, as well as upholding social responsibility through transparent and ethical tax management, in line with the principles of ESG (Environmental, Social, and Governance).

Objectives:

1. To ensure that the Company complies with tax laws and regulations in all areas in which it operates.
2. To promote transparent and responsible tax management that aligns with ESG values.
3. To support economic and social development in the areas where the Company operates by paying fair and appropriate taxes.

Guidelines:

1. Compliance with laws
• The Company will comply with tax laws and regulations in all countries and territories where it operates.
• The Company will review and improve its tax processes in line with changes in laws and regulations.
2. Tax Risk Management
• The Company will establish a tax risk management system to identify, assess, and manage tax-related risks.
• In its tax practices, the Company strictly complies with the provisions of the Revenue Code and tax laws related to business operations, ensuring that taxes are paid correctly. The Company has tax consultants, including personnel with expertise in providing advice on legal compliance, to support appropriate management.
3. Transparency and Ethics
• The Company is committed to disclosing transparent, clear, and accurate tax information in its Annual Report and related documents.
• The Company will not support tax avoidance or unethical actions.
• The Company has no policy of transferring profits to companies abroad with lower tax rates to avoid paying high domestic taxes.
• The Company will not use tax structures without commercial substance or will not employ tax structures in an improper manner that results in tax avoidance. The Company does not use tax havens for tax avoidance purposes.
• Tax policies are approved by the Executive Board before being implemented. The Company conducts its business transparently, and transfer prices for trading transactions or services between companies in the Group are set appropriately, in accordance with normal market prices.
4. Supporting Communities and Environment
• The Company will use part of its business revenue to support activities that benefit communities and the environment, such as social development projects, education, and environmental impact reduction.
5. Knowledge Development and Awareness
• The Company has organized tax knowledge training and promotions for employees to help them understand the importance of tax policy compliance and its connection to ESG.

Monitoring and Evaluation: The Company will regularly monitor and evaluate its tax performance to ensure that its sustainability tax policies are properly implemented and aligned with the Company’s ESG goals.

Policy Review: This policy will be regularly reviewed, or whenever there are changes in relevant laws and regulations, to ensure that it remains appropriate and up-to-date. It is the policy adhered to by TPI Polene Public Company Limited in all operations.

Tax Benefits Received by the Company in 2024:

1. Investment Promotion Act (BOI)
2. Royal Decree No. 437 on Employee Training Expenses