News feed

Toyota has not evaded import duties totalling Bt11 billion on components for its Prius model, Pramon Sutivong, Toyota Motor Thailand chairman, told a news conference in response to media reports.

Pramon, who is also chairman of the Anti-Corruption Network, said Toyota Motor Thailand had imported components since 2010 to assemble the Prius, which also contains 32 locally made components. 

The company has always fully declared these imported components, which were subject to the correct duties in accordance with the Customs Department’s classification, he said. 

He said these Prius components had passed Customs’ import screening process 245 times. 

It was strange that the company was now being subjected to a retroactive tax-payment order totalling Bt11 billion. The company filed appeals on December 4, 2013, and July 31 this year against such tax-payment orders. 

The Customs Department is currently reviewing this case. 

Pramon said this tax-evasion allegation could be politically motivated. Some other foreign investors and business operators are facing similar problems with retroactive tax-payment orders even though they have abided by the applicable laws and regulations pertaining to imported goods and components, he said.

 

Group eyes stake in Bangchak 

A group of executives and employees of Bangchak Petroleum, known as “BCP Corporate”, has proposed a purchase of a 27-per-cent stake in the company, which is currently owned by PTT. 

Wichien Ussanachote, CEO of Bangchak Petroleum, said the purchase would require about Bt12 billion if PTT were to agree to selling the stake, but there had been no response from PTT yet.

“The key reason for proposing to buy shares from PTT is the group is not sure that the new management will be able to work in complement with the direction set by the company to promote sustainable growth in parallel with concern for society and the environment. We hope that PTT will be reasonable in selecting candidates for the management of Bangchak Petroleum by not looking at bottom-line profit as a priority,” Wichien said.

 

Facelifts for Fitness First

Fitness First yesterday announced an investment of more than Bt450 million in facelifts for 25 fitness centres around the Kingdom.

Thailand is seen by the company as the fastest-growing market in Asean. The fitness-centre market in Thailand is worth more than Bt3.5 billion this year, and is expected to increase by another Bt1 billion next year. 

Managing director Mark Buchanan said the penetration rate for fitness activities in Thailand was quite 

low. However, over the past two to three years, more Thais have become concerned about health and exercising. 

 

‘Adjust energy prices now’

The Energy Ministry should quickly  capitalise on the sharp falls in global oil prices to undertake comprehensive reform of energy prices in Thailand right now, instead of waiting for after New Year as expected, said Manoon Siriwan, a member of the National Reform Committee representing the energy sector.

Manoon believes the oil price will not fall lower than US$60 per barrel and the current decline is just short-term before a rebound.