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The People's Party (PP) is pushing forward with a House inquiry into Prime Minister Paetongtarn Shinawatra's use of promissory notes (PNs) in a substantial 4.43-billion-baht share acquisition. The prime minister's transaction is being scrutinised by the main opposition party as a potential tax-dodging tactic.

 

Speaking as the chairman of the House committee on economic affairs, PP list-MP Sittiphol Viboonthanakul outlined three key questions being investigated: the legality of the transaction, whether there was an intention to exploit tax loopholes harming state revenue, and whether relevant agencies performed their duties swiftly and transparently within legal boundaries.

 

This inquiry follows the recent House committee meeting, where representatives from the Revenue Department and the Office of the Auditor General (OAG) were summoned to address these concerns. Despite facing significant opposition during a recent no-confidence debate, Prime Minister Paetongtarn received strong backing to remain in office, leaving the PP determined to explore other legal avenues.

 

Wiroj Lakkhanaadisorn, another PP list-MP and the initiator of the inquiry, emphasised the need to determine if the use of PNs by Ms Paetongtarn to purchase shares from close relatives constituted a simulated transaction to evade gift tax. He attended the meeting to urge the Revenue Department for clarity on its actions under specific sections of the Revenue Code.

 

Under Section 17(7), the Revenue Department has the authority to assess and interpret transactions to identify whether they are simulated arrangements aimed at tax evasion. Section 13(7) permits the director-general to bring disputed tax issues to the Tax Ruling Committee for official rulings and interpretations.

 

The People's Party remains committed to ensuring transparency and accountability, pressing for a thorough investigation into the share acquisition's legality and its implications for state revenue. As the inquiry unfolds, the focus will remain on whether the prime minister's actions were within the bounds of the law or an attempt to circumvent tax liabilities.

 

  Adapted by ASEAN Now from Bangkok Post 2025-05-02

 

 

6 minutes ago, snoop1130 said:

in a substantial 4.43-billion-baht share acquisition

and I thought government officials could not hold shares on a business, am I missing something here, weren't there 2 guys running for PM elections dismissed because they owned shares on some company, I know it was manipulated by the opposition (current government) and by the previous military one as well, so what is it? only can if your name is Shinawatra... damn banana republic

18 hours ago, Mavideol said:

and I thought government officials could not hold shares on a business, am I missing something here, weren't there 2 guys running for PM elections dismissed because they owned shares on some company, I know it was manipulated by the opposition (current government) and by the previous military one as well, so what is it? only can if your name is Shinawatra... damn banana republic

It was concerning shares in media and broadcasting companies. Other business' are not necessarily affected.