By Thai PBS World’s Business Desk

 

This has been a bad year for Toyota Motor Thailand Co Ltd (TMT), the local subsidiary of the Japanese automaker.

 

In mid-September, the company lost a drawn-out court battle and was ordered to pay 11.6 billion baht in unpaid taxes over its importation of components for local production of its Prius hybrid model for the last decade.

 

Meanwhile, a bribery scandal related to the case refuses to go away. Separate official investigations in Thailand and the United States are ongoing more than a year after parent company Toyota Motor Corporation (TMC) revealed in March 2021 that the US Department of Justice (DOJ) and Securities and Exchange Commission (SEC) were investigating “possible anti-bribery” violations in TMC’s Thai subsidiary, TMT.

 

TMC said in a regulatory filing that the DOJ and SEC investigations “could result in the imposition of civil or criminal penalties, fines or other sanctions, or litigation” by either of the agencies.

 

Full story: https://www.thaipbsworld.com/the-multibillion-baht-toyota-tax-bribery-probe-threatening-to-rock-thailands-judiciary/

 

-- © Copyright Thai PBS 2022-10-08

 

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Oh What a Feeling........Toyota!

What? Are they implying that the spotless Thai judiciary is open to influence? Well, I never!

Clearly the brown envelope was not big enough.

What's it got to do with the Americans if it was in Thailand?

10 minutes ago, happy me said:

What's it got to do with the Americans if it was in Thailand?

The U.S. Foreign Corrupt Practices Act is a tool used by the DOJ to prosecute bribery.  Although TMT operates in Thailand, Toyota Motors, the parent company also has factories in the U.S.  Leave it up to the prosecutors to make the connection one way or another.  The SEC gets into the act because Toyota is a listed stock on the NYSE.

1 hour ago, happy me said:

What's it got to do with the Americans if it was in Thailand?

Normal - sticking their nose into other countries business, they should sort out their own not too perfect business dealings.

2 hours ago, In the jungle said:

Clearly the brown envelope was not big enough.

Clearly it was, but when Oliver went back for more he did not get the same meal

3 hours ago, happy me said:

What's it got to do with the Americans if it was in Thailand?

Everything is to do with the Americans. Just look at the number of topics on this site in which Americans twist it in one way or another to relate and compare what happens in Thailand to what happens in America.

6 hours ago, happy me said:

What's it got to do with the Americans if it was in Thailand?

I dare say the thai judiciary would be happy if left to themselves to investigate nothing to see here move along. Top never rock the boat too much constitution says 8 years take 5 more. Watches by dead friend perfectly believable. Now it's our turn judges police and government take turns as the 3 monkeys see no evil ect ect

Lets see Airplane engines, cars, imports, what's not to be obtained without bribes in this country.....Ok now the one person who claims I am Thai bashing is actually correct in this case.

3 hours ago, Bangkok Barry said:

Everything is to do with the Americans. Just look at the number of topics on this site in which Americans twist it in one way or another to relate and compare what happens in Thailand to what happens in America.

Its usually the British or the Aussies  that pull USA into the threads but if it makes you feel better blame the US 

Corruption at the core of Thai society.

12 minutes ago, hotchilli said:

Corruption at the core of Thai society.

of ALL society

Why isn't the Thai judiciary being investigated? Who is the real culprit here? You pay, if payment is accepted. US rules should not apply here.

 

The US is just as corrupt. Look at their political system. Super PACS, lobbyists, the ability to buy your way out of nearly any criminal proceeding, with a few million to throw at a good legal team, etc.

 

And besides, Thailand dropped the ball, by not following through on billions that it promised Toyota in tax breaks. Not a good precedent. Does the word not mean anything? Nor the law? 

Thailand's judiciary does not rock; it rolls with the prevailing wind causing baht notes to rustle.

1 minute ago, mikebell said:

Thailand's judiciary does not rock; it rolls with the prevailing wind causing baht notes to rustle.

My money don't jingle jingle it folds said the head of the Court.

17 hours ago, Bangkok Barry said:

Everything is to do with the Americans. Just look at the number of topics on this site in which Americans twist it in one way or another to relate and compare what happens in Thailand to what happens in America.

Stop ... y'all love the Yanks.  Who else would you bash all day, every thread possible, aside from the Thais.

21 hours ago, happy me said:

What's it got to do with the Americans if it was in Thailand?

Money. US can't keep their noses out of anything.

 

Edit:- Oh, and Toyota is bigger than GM. Not allowed????

VW is bigger than GM and that wasn't allowed either.

Edited October 9, 20223 yr by VocalNeal

21 hours ago, In the jungle said:

Clearly the brown envelope was not big enough.

The Thai judiciary standardized on pastry boxes a few years ago.

 

Brown envelopes are for "normal" run-of-the-mill government corruption kick-backs and pay-offs.

 

 

Edited October 9, 20223 yr by bamnutsak

3 hours ago, spidermike007 said:

Why isn't the Thai judiciary being investigated? Who is the real culprit here? You pay, if payment is accepted. US rules should not apply here.

Who is going to prosecute Thai judiciary? The U.S. law criminalizes only active foreign bribery. While companies and individuals subject to the jurisdiction of the FCPA are punished for paying bribes, those who receive these bribes largely escape U.S. punishment. Attempt to charge foreign government officials who take bribes under statutes, such as money laundering and wire fraud is possible but extremely difficult to prove in the US court and US prosecutors rarely invest their resources to charge foreign government officials and when they do so, it only amounts to a ban to visit US.

21 hours ago, happy me said:

What's it got to do with the Americans if it was in Thailand?

TMC made a filing relating to it with the SEC.  It's in the OP.

20 hours ago, Artisi said:

21 hours ago, happy me said:

What's it got to do with the Americans if it was in Thailand?

Normal - sticking their nose into other countries business, they should sort out their own not too perfect business dealings

I'm pretty sure that filings made by US-listed companies to the US SEC makes it the business of the US.

55 minutes ago, VocalNeal said:

Money. US can't keep their noses out of anything.

TMC reported it in a filing to the SEC.   Nothing to do with the yanks being nosey.

Edited October 9, 20223 yr by Liverpool Lou

Maybe somebody wants to look up the phone number of Rolls-Royce; they had their little music played in regards to aircraft engines. 
To this day though the Thai party accepting bribes was neither identified nor faced the music nor the slammer and the money went ....... well, which money? 

On 10/8/2022 at 8:54 AM, happy me said:

What's it got to do with the Americans if it was in Thailand?

Even though most western countries sign an agreement never to do business including bribery everyone knows it goes hand in hand if you want to work in middle East or Asia. Canada is now embroiled in a big case as was UK when Tony Blair insisted all charges be dropped against British aerospace  when dealing with Saudi Arabia " against national interest " corruption is everywhere and condoned by the west when it suites them

Hardly news in the hub of corruption, how else do you think the little runt got another 2 years added to his term.