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Chinese steel maker accused of falsifying invoices to claim VAT refund

13 Sept 11:38 Key points summarised by AI

Thailand's Revenue Department accused Xin Ke Yuan Steel Company of falsifying over 7,400 tax invoices between 2015-2017 to fraudulently claim approximately 200 million baht in VAT refunds.
The DSI is treating this pre-collapse fraud as a special case, especially as Xin Ke Yuan supplied substandard rebar found in the debris of the recently collapsed State Audit Office (SAO) building.
The Commerce Ministry is also investigating Xin Ke Yuan and China Railway No 10 (Thailand), joint venture partners in the SAO building construction, for potential breaches of Thai law.
Initial probes reveal China Railway No 10 may have used nominee shareholders and its directors are linked to numerous affiliated companies, while Xin Ke Yuan's directors are also connected to 24 other firms, prompting further scrutiny by the Comptroller General’s Department.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.