HNP Counsellors / HNP Taxand - Tax Alert, July 2010 Inside this issue: Indirect Tax: Voluntary Audit Program - An opportunity to minimize liabilities on import errors Customs Department has recently introduced a temporary Voluntary Audit Program (VAP) under which "trustworthy companies have the opportunity to correct any unintentional mistakes that resulted from erroneous customs declarations, short payments or any other mistakes due to accidents or misunderstandings. Business operators joining the program will be able to pay the short paid duties without customs penalty and interest (1% per month) of the duty payable." Read more...download a full issue below. Transfer Pricing: New Thai Transfer Pricing Guidance Early May 2010, Thai Revenue Department (TRD) has issued a new Transfer Pricing Guidance to pursue the new policy in encouraging Thai taxpayers to enter into a Bilateral Advance Pricing Arrangement with TRD. Read more...download a full issue below. Download