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Two loan sharks face 430 million baht in back income taxes


Jonathan Fairfield

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Two loan sharks face 430 million baht in back income taxes

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Two major money lenders who charged exorbitant interest rates on  loans they extended to their debtors and seized their assets after they defaulted are facing about 430 million baht in personal income taxes from the Revenue Department.

 

Pol Lt-Col Wichai Suwanprasert, director of the information technology litigation division of the Department of Special Investigation (DSI), said today that the DSI decided to resort to taxation as a punitive measure to deal with the two money lenders in the northeastern province of Chaiyaphum, Mrs Vilaiporn Thai-ngam and Mr Thanet Maleethong.

 

He alleged that the two money lenders lent out loans to many people in the northeastern provinces besides Chaiyaphum province and demanded exorbitant interest rates from the debtors many of whom were forced to put up their land title deeds as collateral for the loans and to agree to surrender their ownership of the title deeds to them if they default debt repayments.

 

Full story: http://englishnews.thaipbs.or.th/two-loan-sharks-face-430-million-baht-in-back-income-taxes/

 

 
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-- © Copyright Thai PBS 2018-08-21
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hahahahaha, what better way than to hit them for failure to pay taxes, if it was good enough for Capone it is even better for these pathetic excuses for humans, these people suck the life blood out of the poor so this is a perfect pay back to them, now they will lose everything

 

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Loan-sharking's illegal, and yet the Revenue Department wants its pound of flesh!  That makes the Revenue Department an accomplice to the Loan sharks!  Is there any government department that isn't corrupt!

 

The correct thing to do would be to confiscate the assets and return the money to the poor people that were suckered into paying those exorbitant rates in the first place.

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8 hours ago, Moti24 said:

Loan-sharking's illegal, and yet the Revenue Department wants its pound of flesh!  That makes the Revenue Department an accomplice to the Loan sharks!  Is there any government department that isn't corrupt!

 

The correct thing to do would be to confiscate the assets and return the money to the poor people that were suckered into paying those exorbitant rates in the first place.

My thoughts exactly.   The misery of the loan shark victims is compounded by the Revenue grabbing a large share of the ill-gotten gains, while the victims apparently get nothing.

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