Srettha Not Involved in Alleged Tax Avoidance: Sansiri

[webfact]

 

BANGKOK (TNA) – Real estate developer Sansiri Plc issued a statement, clarifying that Pheu Thai prime minister candidate, Mr. Srettha Thavisin was not involved in alleged tax avoidance regarding land transactions and the company always complies with the law in doing businesses.

The company’s statement came after the allegations that Mr. Srettha’s involvement resulted in the government loss in revenue amounting to several hundred million baht.

 

The company explained the land sale-purchase agreements between Sansiri and the sellers were legally structured to assign the tax liabilities, fees, and expenses related to the transfer of land ownership solely to the seller. It is the responsibility of the sellers to pay the aforementioned taxes.

Sansiri’s role was limited to making full payment according to the agreed-upon price and receiving the land transfer.

 

The company denies any involvement in any tax-related practices of the sellers as alleged and did not benefit from any tax savings or reduced expenses in the sellers’ land transfer process.

 

Full story: https://tna.mcot.net/english-news-1217218

 

-- © Copyright Thai News Agency 2023-08-04

 

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[ukrules]

If the tax was paid then usually nobody cares who actually paid it.

 

I also heard that if the tax isn't paid then the land doesn't change ownership so this smells like a load of bull<deleted> to me.

 

Someone in charge of something doesn't like this PM candidate either.

[ikke1959]

Untrustworthy already

[Mr Meeseeks]

1 hour ago, ikke1959 said:

Untrustworthy already

Newsflash: They all are.

[bamnutsak]

2 hours ago, ukrules said:

Someone in charge of something doesn't like this PM candidate either.

I think the message all along has been that you can have any PM you want, as long as it's Prawit, Prayut or Anutin.

 

 

 

 

[khunPer]

8 hours ago, ukrules said:

If the tax was paid then usually nobody cares who actually paid it.

 

I also heard that if the tax isn't paid then the land doesn't change ownership so this smells like a load of bull<deleted> to me.

 

Someone in charge of something doesn't like this PM candidate either.

Seller pays tax depending of land status, which can be business – i.e. 3.3% tax of the sales sum + 1% withholding tax of the highest amount, either appraised value or sales price – or private owned land, which will be income taxed after a reduction, depending of owner-ship time. As the income tax is a progressive scale in 5% steps, there will be less tax if the ownership is divided by numerous people instead of just one person.

 

And yes, the sales tax is the seller's responsibility.

[hotchilli]

9 hours ago, webfact said:

Real estate developer Sansiri Plc issued a statement, clarifying that Pheu Thai prime minister candidate, Mr. Srettha Thavisin was not involved in alleged tax avoidance regarding land transactions and the company always complies with the law in doing businesses.

And they have the lawyers to prove it.

[PETERTHEEATER]

Yesterday it was ;evasion' today it is 'avoidance'

[Dogmatix]

This is a very feeble rebuttal by Sansiri.  The company was not accused of tax avoidance or evasion itself by Chuvit.  He accused them of aiding and abetting tax avoidance and possibly evasion.  The sellers couldn't have done this without Sansiri's cooperation in a highly convoluted process that also involved the better part of a billion baht in cash flying about which is clear sign of understatement of the sales price for tax purposes. This is all highly unethical and weak corporate governance.  Even if everyone else does it, Srettha is the CEO who has been caught doing it and Sansiri has not attempted to deny the aiding and abetting because it can't.