Bangkok Bank upholds and abides by applicable tax laws and appropriate tax risk management practices. The Bank recognizes the importance of being a responsible taxpayer and timely tax payment, representing a social responsibility which is deemed a crucial driving force toward long-term sustainable growth and sustainable value creation for all stakeholders.
The Bank has established this tax policy in line with its corporate governance principles. The policy observes an effective operational risk management framework encompassing risk definition, risk assessment, risk monitoring, risk mitigation and risk control. As a requirement, each unit in the Bank has a direct responsibility for managing its respective operational risk and establishing measures to mitigate, monitor and control the risk within acceptable level by allocating resources appropriately, while fostering a bank-wide operational risk management culture.
The Board of Directors is responsible for approving the Bank’s tax policy and ensuring policy compliance. The Audit Committee is responsible for reviewing and auditing the Bank’s operations to be in conformity to the tax policy. The Risk Management Committee has the responsibility to manage operational risk of the Bank which includes tax implications from business operations.
The Bank’s Tax Policy
consists of 3 aspects as follows:
- Tax Governance
- Tax Risk Management
- Tax Transparency