Taxation code of conduct and policy 

UBIS (Asia) Public Co., Ltd. (UBIS) has continuously adhered to compliance with the policy and principles of good corporate governance for a long time. UBIS has operated business with transparency as well as awareness of duties and responsibilities regarding tax operations so as to build trust of all stakeholder groups.

Taxation code of conduct

1. 1. Legal compliance: UBIS has always adhered to and complied with all relevant laws, including conducting business properly according  to international standards and working in conformity with the intent and writing of the laws.

• Corporate ethics: UBIS’s taxation code of conduct has been established from the principles of corporate governance and business ethics stipulating that UBIS’s operations must be consistent with and meet the highest operational standards.

• Trade pricing for transnational business: UBIS has paid taxes at appropriate values consistent with the values incurred in normal commercial transactions. The calculation of trade prices of goods or services will be based on market prices mainly.

• Tax structures: UBIS has avoided the use of fraudulent or misguided or complicated tax structures for the sake of initial taxation and tax avoidance.

• Taxation system for corporate sustainability: UBIS has taken responsibility toward shareholders by being a company with excellent financial status and taxation system that adds value to shareholders sustainably.

• Tax Incentives: UBIS aims to use tax incentives legally with full efficiency under the decision to operate business sustainably and appropriately.

• Relationships with tax government regulators: UBIS has respected the government’s right to establish tax structures, tax rates and tax collection mechanisms for any country. UBIS has open and creative contact with tax regulators so as to enhance collaborative relationships professionally and efficiently.

Taxation policy

1. 1. Taxation planning and practices
      1.1 Providing taxation management service by paying taxes properly as required by law and maintaining the organization’s good reputation as well as relationships toward the relevant government tax authorities.
      1.2 Tax remittance must be made within the period prescribed by law and payment must be managed or tax refunds must be requested for maximum liquidity of the organization.
   2. Taxation coordination with the government authorities UBIS has arranged to have the persons responsible for taxation and liaising with the government tax authorities. Action must be taken by the persons responsible for taxation only.

Taxation risk management

UBIS has adhered to and complied with the laws as well as regulations of all areas where UBIS has operated business. Also, UBIS aims to manage (taxation) risks, namely tax consequences from changes in tax policy or tax management practices of the government sector and detailed risk evaluation of all tax-related activities. This covers the risks of legal compliance supervision, operational risks and financial reporting risks of independent external auditors. The objectives are to ensure that taxation risks are identified and managed, including reporting to the management team so as to appropriately reduce the potential impact of risks as follows.

1. 1. Taxation process compliance: UBIS has striven to manage taxation responsibly by adhering to and complying with the laws as well as regulations relating to taxation of the countries in which UBIS operates business. Furthermore, UBIS will exercise due diligence and transparency as the rules for tax operations if taxation laws do not have clear operational guidelines.
   2. Monitoring and reporting: UBIS has monitored and reported income tax both internally and by independent auditors, including showing current and deferred income tax expenses correctly.
   3. Reputation risks: UBIS has monitored and managed compliance with the rules as well as reputation risks associated with taxation effectively as well as analyzed the quality and unity of tax management, accuracy and completeness of tax information, tax refunds, including reporting on tax estimates, tax risks and deferred income tax regularly.

Tax transparency

UBIS has disclosed tax information to the government sector and the public transparently by applying tax disclosure standards and reporting through UBIS’s financial reports. UBIS has strived to be a business organization that is a good citizen of society by establishing taxation liability and tax transparency in order to build trust of society and all stakeholders.

SUSTAINABILITY VALUATION

Materiality assessment

This sustainability reporting of UBIS (Asia) Public Co., Ltd. for the year 2019 between 1 January 2019 – 31 December 2019 represents the Corporate Social Responsibility Report of UBIS, which consists of economic, social and environmental aspects. It shows business operations with social and environmental responsibility in an organized manner. Because UBIS (Asia) Public Co., Ltd. created the sustainability report for the first time, so the surveys on all stakeholders have not been completed yet. The procedure for materiality evaluation is as follows.

1. Identifying the topics : Collecting the topics that are important to UBIS’s business operations covering economic, social and environmental dimensions by the Sustainability Working Group
2. Prioritization : Prioritizing the topics by considering the trends and important impacts on the business and stakeholders by the Sustainability Working Group
3. Evaluation assurance : The results of materiality assessment were submitted to the Sustainable Development Committee for approval.

Results of materiality assessment 

Operation

Materiality management

Performance Goal : Building strong operating performance and maintaining profit margins continuously

Goals, Strategies and Operations Strategy Management Operating Result Year 2019 :

• Focus on developing innovations with customers (Market driven) and introducing new products
• Building brand Loyalty and maintaining the existing customer base as well as creating new customers
• Controlling the cost and expenses to be effective
• Establishment of UBIS Innovation Committee with a role in determining the organization’s direction of innovation
• Developing the process of building customer satisfaction
• Developing the conceptualization process of Cost effectiveness Management system

Customer satisfaction increased by 4%. Fixed gross profit margin at 35% Fixed profit margin at 13% (excluding loss from the exchange rate)

Operation