Tax Transparency
Our Commitment
JAS Asset Public Company Limited is committed to conducting its business with integrity, transparency, and social responsibility, recognizing the importance of paying taxes accurately and in full as part of its contribution to the nation’s economic and social development. The Company strictly complies with all relevant tax laws, rules, and regulations, and fully cooperates with the responsible government authorities.
In addition, the Company places great importance on effective, transparent, and accountable tax management. It encourages all relevant employees to develop proper tax knowledge and understanding while fostering a corporate culture grounded in ethics, transparency, and accountability to all stakeholders. The Company firmly believes that transparent and fair tax practices serve as a strong foundation for building trust among shareholders, investors, government agencies, and society at large, thereby supporting the Company’s stable and sustainable growth in the long term.
Supporting the SDGs Goals
Stakeholders Directly Impacted
Goals and Performance Highlights
Performance
Tax Management Performance
The Company conducts its business and manages taxation with transparency, recognizing its duties and responsibilities in tax operations to build trust among all stakeholders. At present, the Company has updated its measures and procedures to align with internationally accepted standards and ensure consistency across the organization. This enables accounting personnel and related employees to have a thorough understanding of tax regulations, financial reporting requirements, and tax planning principles, allowing them to perform their duties accurately and in alignment with the Company’s activities. Such efforts ensure proper and complete tax payment in compliance with legal requirements, minimize the risk of penalties and surcharges, reduce calculation errors, and promote prudent tax planning to prevent potential tax issues in the future.
Effective Tax Rate
| Year | Net Profit Before Income Tax (Thousand Baht) | Income Tax Expenses (Thousand Baht) | Effective Tax Rate | Corporate Income Tax Rate |
|---|---|---|---|---|
| 2023 | 262,941 | 70,343 | 27% | 20% |
| 2024 | 211,682 | 46,071 | 22% | 20% |
| 2025 | (784,967) | 54,746 | n/a | n/a |
Management Approach and Value Creation
The Company adheres to and complies with all laws and regulations with diligence and transparency, while focusing on managing tax-related risks
These risks include those arising from changes in tax policies or government tax administration practices, support for documented tax risk management policies and procedures, and the assessment of risks associated with all tax-related activities. This encompasses risks related to legal compliance, operational processes, and financial reporting as reviewed by external independent auditors.
The Company has established a systematic approach to tax risk management, utilizing methods to analyze and assess potential risks, while implementing appropriate control and preventive measures. This ensures that all businesses within the JAS Asset Group comply fully and accurately with tax requirements, report tax performance to government authorities transparently, and align with disclosure requirements regarding all tax obligations. It also supports new policies requiring companies to publicly disclose tax benefits and report on activities that contribute to the overall economic development of the country. The Company is committed to being a responsible corporate citizen, striving for excellence in accountability and tax transparency, thereby building trust with society and all stakeholders.
Furthermore, JAS Asset Public Company Limited emphasizes transparent, fair, and responsible tax management, ensuring compliance with tax laws and regulations in a timely manner to support the country’s economic and social development in a responsible and sustainable way.
The key approaches are as follows
Compliance with Laws and Regulations
Transparency in Reporting
Tax Risk Management
Clear Tax Policy
Stakeholder Engagement
Ethical Compliance
Compliance with Laws and Regulations
The Company places great importance on full compliance with all tax laws, both locally and internationally, by preparing accurate and complete tax reports and ensuring timely tax payments. This helps build confidence and maintain good relationships with government authorities.
Transparency in Reporting
The Company discloses tax-related information in its annual reports and financial statements in a transparent manner, allowing stakeholders to clearly verify the information. This includes providing details on taxes paid by the Company each year.
Tax Risk Management
The Company assesses and manages potential tax risks, including updating tax processes in accordance with changes in tax laws, and reducing the risk of audits or non-compliance through monitoring and ensuring adherence to tax standards.
Clear Tax Policy
The Company maintains a documented and easily accessible tax policy, enabling all relevant parties—such as employees, business partners, and shareholders—to clearly understand the Company’s approach to tax management.
Stakeholder Engagement
The Company encourages stakeholder participation in monitoring compliance with tax policies by providing channels for communication and reporting tax-related issues, ensuring that tax management is conducted transparently and fairly.
Ethical Compliance
The Company upholds ethical principles and accountability in tax management, avoiding improper or inappropriate tax avoidance practices to maintain its positive reputation and the trust of the public and government authorities.
JAS Asset Public Company Limited remains committed to developing its tax strategies and policies in line with regulatory changes and the evolving business environment, maintaining transparency, building stakeholder confidence, and reflecting the Company’s responsibility to society and commitment to economic fairness.