Classifieds 50% off, use promo code FBkpkPromo The Phuket News Kata Rocks The Phuket News Outrigger Koh Samui Beach Resort
The Phuket News Thailand News
The Phuket News Phuket | Thailand | World | Business | Q&A | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

Govt rushes to snag tax from Thaksin

BANGKOK: Pressure is mounting on the government to find ways to collect B12 billion in taxes from former prime minister Thaksin Shinawatra over the Shin Corp stake sale as the deadline for collecting the amount draws close.

crime,


Bangkok Post

Tuesday 14 March 2017, 08:49AM


Some members of the government contend that ex-premier Thaksin owes B12 billion in taxes he avoided illegally when he sold Shin Corp to the Singaporean investors Temasek. Photo: Bangkok Post
Some members of the government contend that ex-premier Thaksin owes B12 billion in taxes he avoided illegally when he sold Shin Corp to the Singaporean investors Temasek. Photo: Bangkok Post

The statute of limitations in the case expires in only 18 days.

While the government is struggling to explore all possible legal avenues to collect the tax, it has insisted the all-powerful Section 44 will not be used in this case.

Yesterday (Mar 13), Deputy Prime Minister Wissanu Krea-ngam said the government would not invoke Section 44 of the interim constitution to obtain the tax from Thaksin over the sale of shares in Shin Corp to Singapore’s Temasek Holdings a decade ago.

He made the remarks after a meeting with officials handling the case including Finance Minister Apisak Tantivorawong, Auditor-General Pisit Leelavachiropas, Public Sector Anti-Corruption Commission Secretary-General Prayong Preeyajit, and Anti-Money Laundering Office Secretary-General Gen Chaiya Siri-ampankul.

Before the meeting, Mr Pisit told the media he would propose using Section 44 to extend the five-year statute of limitations, set to expire on March 31, to 10 years.

However, after the meeting Mr Wissanu said the National Council for Peace and Order would meet today (Mar 14) to issue some orders under Section 44, but it would not be used to deal with the tax case.

The government will not do anything that goes against the rule of law, Mr Wissanu added.

Gen Chaiya also said the meeting had reached a satisfactory conclusion. He declined to elaborate, saying the prime minister would provide details.

Meanwhile, Mr Apisak said the Revenue Department must provide the ministry with reports on the tax collection from Thaksin no matter what the outcome of their attempts to obtain the money.

He added that the department never presented any report informing the ministry if it could collect the tax from Thaksin.

Revenue Department Director-General Prasong Poontaneat could not be reached for comment.

BIS

A source at the Revenue Department said that Section 3 of the Revenue Code authorised tax authorities to extend the time frame of tax evaluation, but it cannot be applied to this case because the section is intended to help taxpayers, not punish them.

The source said that tax laws are public laws designed to limit the state’s authority so as to ensure the public can proceed with their normal lives.

Regarding the Office of Auditor-General (OAG)’s proposal to use Section 61 of the tax code, the source said this section could not be used again because the department already cited it in a case in which the Central Tax Court ruled in favour of Thaksin’s children.

The section indicates assessment officials have the power to assess and charge the amount of income tax that is payable by people whose names appear in important documents showing they are the owners of properties which generate assessable income.

Previously, the Finance Ministry’s tax committee, chaired by Deputy Permanent Secretary for finance Prapas Kong-ied, indicated people who have incorrectly submitted their annual earnings for tax evaluation would no longer be required to resubmit them once a five-year time frame has passed, and the time frame could not be extended.

The decision concerns the case where Thaksin’s children, Mr Panthongtae and Ms Pinthongta, purchased 329 million Shin Corp shares at a price of one baht each from Ample Rich, an offshore holding company controlled by the Shinawatra family.

The pair later sold the Shin shares in their name to Temasek through the Stock Exchange of Thailand for B49.25 each, reaping a capital gain of nearly B16bn. The tax on the capital gains along with the fines for not paying it totalled about B12bn.

The case went to the Central Tax Court which ruled in the siblings’ favour and the Revenue Department did not appeal against the ruling. According to the court, the real owner of the shares was Thaksin, not his two children.

Based on the ruling, the OAG requested the Revenue Department collect the B12 billion in tax from Thaksin instead, saying the revenue law has room for the department to extend the five-year time frame.

Read original story here.

 

 

The Phuket News
The Phuket News
Comment on this story
* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.
Comments Here:
Username:
Password:
E-mail:
Security:
    Forget your password?

Be the first to comment.

The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community

Recent Comments


Phuket officials exasperated over dumping in Karon

How about remote controlled CCTV Cams, directed on the spots, from high elevation in trees or light masts? Zoom in on the culprits, catch them, 2000 ...(Read More)


‘I was framed,’ school chief swears

Jor12,the misreading/not understanding was regarding Kurts comment.I absolutely agree with your opinion....(Read More)


‘I was framed,’ school chief swears

Jor12, the article also states "The case first drew the attention of the media after one parent circulated a video clip allegedly showing the sch...(Read More)


Phuket officials to patrol Rawai pier to check for begging sea gypsy kids

Jor12... Collusion:secret or illegal cooperation or conspiracy in order to deceive others. Once again, not the correct usage, and I did NOT say coll...(Read More)


‘I was framed,’ school chief swears

eagle...no, it says nothing at all about the Director, only a denial and being a well organised plot. "The director WAS SAID to have had his depu...(Read More)


Tons of rubbish cleared in Phuket airport beach clean-up

Paully44...merely commented on your illogical post. Don't know how you arrive at your conclusion. If you have any evidence you should be doing som...(Read More)


Phuket officials to patrol Rawai pier to check for begging sea gypsy kids

Rorii..there is no evidence of collusion by parents. However, if there is, it lends further credence to my analysis of the kids being entrepreneurial ...(Read More)


Fears for thousands of tower block residents after London inferno

Let's hope that Thai Government also looks into cladding ( outer coverings) of high rise buildings. It will give peace of mind when the thai Gove...(Read More)


Phuket officials to patrol Rawai pier to check for begging sea gypsy kids

Sounds noble. Could it be though that these officially non-thai citizens / children... are not sharing a cut of thier earnings with..... Aaaaah. ...(Read More)


Tons of rubbish cleared in Phuket airport beach clean-up

Kurt; I'm well aware of the antics but have to correct him. Jor 12; your assertion that is must be a foreigner whom can't read the Thai langua...(Read More)

The Phuket News
Bangkok Hospital Phuket
PHUKET NEWS
Phuket
Thailand
World
Business
Q A
Weird World
ARCHIVE
POLL
CURRENCY
WEATHER
PHUKET TIDE TABLE
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Culture
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Technology
Phuket Travel
Photo Galleries
COLOURING BOOK
The Phuket News PHUKET SPORT
Phuket
Thailand
World
SURF REPORT
PREDICTIONS
The Phuket News PHUKET CLASSIFIEDS
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
SEARCH CLASSIFIEDS
POST CLASSIFIED
The Phuket News The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Buy Tickets
POST EVENT
The Phuket News PHUKET DIRECTORY
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
POST LISTING
The Phuket News BARGAINS
The Phuket News ABOUT US
The Company
Distribution points
Subscribe
Advertise with us
Pay for advert
Contact us
CONTESTS
Content Google Map
Site map
Australian Visa Services
 
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2017 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.