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Economy August 09, 2014 01:00

By The Nation

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More printers arrested over fake tax invoice

Two more printers – one in the Bangkok district of Bang Khae and the other in Lop Buri – have been arrested by police as the Revenue Department cracks down on people behind the scam involving fake invoices with a monetary value of Bt200 million over the past year. 
 Department director-general Prasong Poontaneat said the two printers had set up a bogus company, with clients in the construction sector. The printers would charge 3-4 per cent of the monetary value stated in the tax invoice of their clients. 
 Perpetrators of this type of crime are subject to both criminal and civil penalties. The former involves a jail term of up to seven years, while the penalty under the Civil Code is a fine ranging from Bt2,000 to Bt2 million, depending the extent of the monetary damage to the state.
 This month is the period for submitting the tax invoices for juristic entities for the first half of 2014, and the Revenue Department urges taxpayers to avoid using fake tax invoices as the authorities will strictly enforce the applicable laws, Prasong said.
New exec team at BOT  
The Bank of Thailand has appointed new senior executives and a spokesperson following the National Council for Peace and Order’s approval to appoint its executives to become the chairman and directors of the newly created specific financial institute.
 The appointments are: Krirk Vanikkul as deputy governor of the Financial Institutions Stability Group; Salinee Wangtal as assistant governor of the Supervision Group; Tongurai Limpiti as deputy governor of Corporate Support Services and Banknote Management; Paiboon Kittisrikangwan as assistant governor of the Monetary Policy Group; Mathee Supapongse as senior director of the Macroeconomic and Monetary Policy Department; Ronadol Numnonda as senior director of the Onsite Examination Department; and Chirathep Senivongs Na Ayudhya as senior director of the Corporate Communications Department.
 Chirathep will act as the new spokesperson of the central bank. 
All of these changes take effect on August 15.
Samart to raise funds  
Samart Corp plans a Bt5-billion debenture issue, of which some of the proceeds  will be used to fund the acquisition of two utility companies costing Bt2 billion this year, president Watchai Vilailuck said yesterday.
 The remaining amount will be used for repaying debt.
 Samart yesterday reported second-quarter revenue of Bt6.56 billion and net profit Bt412 million, up 18 per cent and 12 per cent respectively from the same period last year.
Push for train carriages  
The State Railway of Thailand has sped up its train carriage acquisition plan in response to six dual-track railway projects being approved by the junta. 
The projects, worth Bt127.47 billion in total and with a combined length of 887km, are slated for completion in 2020. 
Speaking at a seminar on how to develop the country’s rail system yesterday, SRT marketing director Voravuth Mala said the agency’s board had approved the acquisition of 185 diesel air-conditioned carriages.
Voravuth said the Audit Committee was looking into the acquisition as it had exceeded Bt100 million.