Thaksin's Children To Appeal Thai Supreme Court Verdict

[webfact]

RULINGS ON THEIR FATHER

Shinawatra children to appeal verdict

By THE NATION

BANGKOK: -- Pheu Thai MP wants to know why tax will be sought on shares now seen as Thaksin's

Lawyers representing ex-PM Thaksin Shinawatra's children are planning to appeal against the Supreme Court verdict and prove that Panthongtae and Pinthongta were real shareholders not nominees, a lawyer said yesterday.

Kittiporn Arunrat said the defence team was waiting for a copy of the full court verdict, which should be available this week.

"The lawyers will carefully study the verdict on each of the issues. We have 30 days to complete the job but may have to ask for an extension," he said, referring to the deadline set by law for filing appeals.

"We will do our best to appeal the case. We have the legal right to do so, and will prove that Panthongtae and Pinthongta are the real holders of the shares," he said.

Thaksin's legal adviser Noppadon Patama confirmed yesterday that the defence team would appeal against the court ruling. He added that they still had doubts about some issues, such as the court accepting an order made by coup-makers and its ignorance of a previous Constitutional Court ruling that it was lawful to convert telecom concession fees into excise taxes.

On Friday, the Supreme Court's Criminal Division for Political Office Holders ordered the seizure of more than Bt46 billion of Thaksin's assets found to have been earned dishonestly while serving as prime minister. The court found that Thaksin used his children as nominees to hold massive shares in the family-owned Shin Corp.

Meanwhile, Premier Abhisit Vejjajiva said yesterday that according to the Constitution, filing an appeal in such a case should involve new facts, not legal points. He was responding to a report that the defence team planned to question the legitimacy of the Assets Examination Committee, which was appointed by coup-makers in 2006 and whose investigation led to the case against Thaksin.

Attorney-General Julasing Wasantasing said his agency would review allegations against Thaksin and work with relevant agencies to determine if more cases should be brought to court.

Medhi Krongkaew, a member of the National Anti-Corruption Commission, said at their meeting today, the NACC commissioners had no agenda to discuss an OAG request for the NACC to take criminal action against Thaksin for filing false reports about his financial status. He said the NACC would have to carefully study the verdict before taking any action on the matter.

Director general of the Comptroller General's Department, Pongpanu Sawetarun, said yesterday that if no appeal was submitted within 30 days, the agency would put the Bt46 billion ordered seized in the state coffers.

Meanwhile, Pheu Thai MP Surapong Tovichakchaikul, in his capacity as chairman of the House committee on monetary affairs, finance, banking and financial institutions, said he would summon the Revenue Department's director-general to explain the Bt12 billion demanded as taxes from Panthongtae and Pinthongta. He said the Supreme Court had ruled that Thaksin was the real holder of the shares.

Surapong, whose party is pro-Thaksin, also said that he would petition the NACC to examine the financial reports filed by the Cabinet members to determine if any had used their spouses or children as nominees to hold shares.

-- The Nation 2010-03-02

[newsfooter][/newsfooter]

[anotherpeter]

This one is an easy defense ... they can show proof that they didn't own them.

Oh, sorry forgot. They are going to produce evidence in another case that they DID own them.

They want to have their cake and eat it too.

[Mario2008]

Every legal commentary so far indicates that they can only get a new trial if they come up with new evidence that wasn't available when the court reached its decision.

To contest the legality of the case is no ground for a new trial. I can only conclude that kind of arguments, if used, will only be for political purposes.

[virtualtraveller]

Much that I have little respect for the half-truths usually uttered by MP Surapong Tovichakchaikul (My local Chiang Mai MP I believe), he has a good point here.

By demanding tax on the sale of shares to the siblings the State is admitting they were the true owners of the shares. If the Supreme court has ruled that Thaksin remained the proxy owner then it's unfair to then rule that tax was payable on an ownership transfer which the highest court has ruled wasn't a genuine sale.

It's one or the other, a conundrum that will have to go to the Supreme Court in the case of a tax claim and dispute.

As to an appeal, I fully expect this to be lodged even if no new evidence appears, isn't this standard in Thailand. How often do you hear of big noodles losing cases, only to appeal and avoid any jail time or losses while the case gets quietly squashed and is never heard of again (remember the ECC execs sentenced to jail time? They're still out on appeal).

An appeal case would be the next strategy for Thaksin's defence team, even if the court refuse to accept it on 'new evidence' grounds, it will give them a chance to present to the public various inconsistencies of this complicated case (such as the tax dilemma mentioned above), and even if it gets chucked out they will score points of 'double standards' sympathy in the war for hearts and minds of the people.

And so it goes on and on, lots of energy wasted on the squabbling instead of uplifting the poor.

[Mario2008]

Thailand also has the possibility of an appeal, but like many other countries not in cases where political office holders are concerned. In those cases one is tried by the high court, without appeal.

[givenall]

This one is an easy defense ... they can show proof that they didn't own them.

Oh, sorry forgot. They are going to produce evidence in another case that they DID own them.

They want to have their cake and eat it too.

Does anyone understand what final mean?

Final means your shi..t out of luck, I guess they have more money to waste and in time more problem will be found with their wealth I am sure and they will continue to lose more money.

[animatic]

Much that I have little respect for the half-truths usually uttered by MP Surapong Tovichakchaikul (My local Chiang Mai MP I believe), he has a good point here.

By demanding tax on the sale of shares to the siblings the State is admitting they were the true owners of the shares. If the Supreme court has ruled that Thaksin remained the proxy owner then it's unfair to then rule that tax was payable on an ownership transfer which the highest court has ruled wasn't a genuine sale.

It's one or the other, a conundrum that will have to go to the Supreme Court in the case of a tax claim and dispute.

As to an appeal, I fully expect this to be lodged even if no new evidence appears, isn't this standard in Thailand. How often do you hear of big noodles losing cases, only to appeal and avoid any jail time or losses while the case gets quietly squashed and is never heard of again (remember the ECC execs sentenced to jail time? They're still out on appeal).

An appeal case would be the next strategy for Thaksin's defence team, even if the court refuse to accept it on 'new evidence' grounds, it will give them a chance to present to the public various inconsistencies of this complicated case (such as the tax dilemma mentioned above), and even if it gets chucked out they will score points of 'double standards' sympathy in the war for hearts and minds of the people.

And so it goes on and on, lots of energy wasted on the squabbling instead of uplifting the poor.

This tax was based on the subterfuge of using the kids to hide the assets

and also attempt to bypass taxes on the SET transactions. Long known to be unsuccessful.

There is also the clear difference between 'legal ownership' and 'CONTROLLING interest'.

It was proved that whom evers name was on the docs or the company,

Thaklsin and Potajmin STILL controlled the shares dispositions.

Thaksin controlled these shares through the kids at minimum,

and regardless of their names on some paper or not,

these taxes are STILL due, 12 billion baht if memory serves regardless of ownership.

Thaksin in his position at the time had no legal right to own the shares,

but regardless, the SALES and it's TAX burden would still be assessed.

Edited March 2, 2010 by animatic

[Chang_paarp]

As they were not part of the original suit, I wonder on what grounds the kids will appeal???

I assume they were asked to prove they were the rightful owners and controllers of the shares in order to help prove or otherwise Taksin's case. The court has given their judgment, as there is no course for appeal without submitting significant new evidence, I would not give them any chance of success.

It will be interesting who gets the tax bill.

[sawadeeken]

Rots-a-ruk, kids (for non-asians ---- "lots of luck")

[siampolee]

Suppose they have to appeal as daddy having assorted passports from somewhat less than ethical states can't appeal in a Thai court.

[Old Man River]

Every legal commentary so far indicates that they can only get a new trial if they come up with new evidence that wasn't available when the court reached its decision.

To contest the legality of the case is no ground for a new trial. I can only conclude that kind of arguments, if used, will only be for political purposes.

Mario, it is going to be interesting though. The Supreme Court has opined that the children did not own the shares while the Thai Revenue Department is saying they did own the shares and owe tax on the profits from the sale of their shares. It can't be both, can it?

[hammered]

After the supreme court decison the kids cant really owe tax. Either the tax department drop the case or the tax department loses the case. The tax departments case that hasnt gone to judgement is likely not enough for a rehearing on the supremes as it has been around for quite sometime. In fact iirc it was raised under a PPP government.

The AEC investigative body thing is for poltical capital but also opens up the avenue of reintroducing the 1997 constitution. Part of this will mean a new constitutional court under the 1997 rules which means a return to a majority of poltical appointees over lawyers (previously this was a very very contentious issue). Then ask this new court to rule on the AEC which could mean the case falls on a technicality of an unauthorized prosecutor. I doubt the Thaksin side have missed this obvious route for them. If they can win an election big enough and if they can ram the old constitution back in then it is likely they can load a new constitutional court with enough poltical appopintees to get Thaksin his money back

There are other options but this one becomes a nice way of doing it all aboveboard and legally

[Old Man River]

After the supreme court decison the kids cant really owe tax. Either the tax department drop the case or the tax department loses the case. The tax departments case that hasnt gone to judgement is likely not enough for a rehearing on the supremes as it has been around for quite sometime. In fact iirc it was raised under a PPP government.

The AEC investigative body thing is for poltical capital but also opens up the avenue of reintroducing the 1997 constitution. Part of this will mean a new constitutional court under the 1997 rules which means a return to a majority of poltical appointees over lawyers (previously this was a very very contentious issue). Then ask this new court to rule on the AEC which could mean the case falls on a technicality of an unauthorized prosecutor. I doubt the Thaksin side have missed this obvious route for them. If they can win an election big enough and if they can ram the old constitution back in then it is likely they can load a new constitutional court with enough poltical appopintees to get Thaksin his money back

There are other options but this one becomes a nice way of doing it all aboveboard and legally

And that, in a nutshell, explains the upcoming March 14th Red Shirt demonstration. This whole much awaited court decision becomes moot if the Phue Thai gets into power. If they do, they will overturn it all and it will be back to square one.

[junglist]

Is it me or does his cranium look smaller in this picture. Almost normal it could even fit through a doorway. Strange what the corrupting power of money can do. 55555

[animatic]

After the supreme court decison the kids cant really owe tax. Either the tax department drop the case or the tax department loses the case. The tax departments case that hasnt gone to judgement is likely not enough for a rehearing on the supremes as it has been around for quite sometime. In fact iirc it was raised under a PPP government.

The AEC investigative body thing is for poltical capital but also opens up the avenue of reintroducing the 1997 constitution. Part of this will mean a new constitutional court under the 1997 rules which means a return to a majority of poltical appointees over lawyers (previously this was a very very contentious issue). Then ask this new court to rule on the AEC which could mean the case falls on a technicality of an unauthorized prosecutor. I doubt the Thaksin side have missed this obvious route for them. If they can win an election big enough and if they can ram the old constitution back in then it is likely they can load a new constitutional court with enough poltical appopintees to get Thaksin his money back

There are other options but this one becomes a nice way of doing it all aboveboard and legally

The point is the shares WERE sold,

and whomever is responsible must still pay the taxes on that sale.

The kids or the parents, or whatever 'legal entity' would claim the money goes to it.

the money must be paid, and that logically comes from the remaining 30 billion.

No matter who does pay it, the taxman gets his share.

[animatic]

The "kids" are upset because the Supreme Court took away their ice cream.

Is it me or does his cranium look smaller in this picture. Almost normal it could even fit through a doorway. Strange what the corrupting power of money can do. 55555

It's the Chaingmai spa head squaring system he has been using for years.

Lengthens and sharpens angles, while thickening the face and oiling it up for slipperiness.

Seems to work like a charm; logic and bad news seem to bounce off without entering.

[britmaveric]

waste of time.... they would have better chance winning the Euro lottery then getting the dosh back from this lot.

[Old Man River]

After the supreme court decison the kids cant really owe tax. Either the tax department drop the case or the tax department loses the case. The tax departments case that hasnt gone to judgement is likely not enough for a rehearing on the supremes as it has been around for quite sometime. In fact iirc it was raised under a PPP government.

The AEC investigative body thing is for poltical capital but also opens up the avenue of reintroducing the 1997 constitution. Part of this will mean a new constitutional court under the 1997 rules which means a return to a majority of poltical appointees over lawyers (previously this was a very very contentious issue). Then ask this new court to rule on the AEC which could mean the case falls on a technicality of an unauthorized prosecutor. I doubt the Thaksin side have missed this obvious route for them. If they can win an election big enough and if they can ram the old constitution back in then it is likely they can load a new constitutional court with enough poltical appopintees to get Thaksin his money back

There are other options but this one becomes a nice way of doing it all aboveboard and legally

The point is the shares WERE sold,

and whomever is responsible must still pay the taxes on that sale.

The kids or the parents, or whatever 'legal entity' would claim the money goes to it.

the money must be paid, and that logically comes from the remaining 30 billion.

No matter who does pay it, the taxman gets his share.

On this, we all can agree, but Hammered's point is that if the PTP gets back into power, they can stack a constitutional court to ultimately overturn the Supreme Court's decision on a technicality (remember the guys who voted that Thaksin didn't know his maid and driver got the shares?). Yeh, that was the constitutional court. Anything is possible under Thailand's democratic system.

[ratcatcher]

The "kids" are upset because the Supreme Court took away their ice cream.

Is it me or does his cranium look smaller in this picture. Almost normal it could even fit through a doorway. Strange what the corrupting power of money can do. 55555

It's the Chaingmai spa head squaring system he has been using for years.

Lengthens and sharpens angles, while thickening the face and oiling it up for slipperiness.

Seems to work like a charm; logic and bad news seem to bounce off without entering.

It is also obvious what extreme wealth can do for the looks of a once alluring woman.

[Soi Sauce]

The "kids" are upset because the Supreme Court took away their ice cream.

Is it me or does his cranium look smaller in this picture. Almost normal it could even fit through a doorway. Strange what the corrupting power of money can do. 55555

It's the Chaingmai spa head squaring system he has been using for years.

Lengthens and sharpens angles, while thickening the face and oiling it up for slipperiness.

Seems to work like a charm; logic and bad news seem to bounce off without entering.

It is also obvious what extreme wealth can do for the looks of a once alluring woman.

555 Make you right. She actually loox worth asking out to dinner, unlike now.

But, come the menu;

What would you like to eat, darling

The poor of course.

Poorchini?

Poorchini ain't poor,; he's holding the shares. I mean the poor, those who are mIsaan wot we got.

[junglist]

The "kids" are upset because the Supreme Court took away their ice cream.

Is it me or does his cranium look smaller in this picture. Almost normal it could even fit through a doorway. Strange what the corrupting power of money can do. 55555

It's the Chaingmai spa head squaring system he has been using for years.

Lengthens and sharpens angles, while thickening the face and oiling it up for slipperiness.

Seems to work like a charm; logic and bad news seem to bounce off without entering.

Yo! Do you have the number or address for the spa. I could use some thing that could prevent bad new in my life.

Side Effects of Chaingmai Ice Cream Spa Fine Print:

“Over use of Chaingmai Ice Cream might change shape of head and or other body parts. It may also lead to Megalomania and Delusions of Power. Please use with care. ”

[animatic]

Returning to the 1997 constitution wouldn't change anything,

since this was done via another constitution.

That's like saying if we reinstall the 1991 or 1931 or 1947 constitutions, all is forgiven.

Retroactive forgiveness... AKA a pardon via the legislature.

Well if we can remember PPP was a more coherent bunch that PPP by far,

and they couldn't prevent anything while ELECTED into power... so how can PTP stand a chance.

Regardless of who is on the bench, did this '30 days to appeal WITH new evidence,

and/or it's a done deal for good, law change? I don't thinks so.

The ONLY thing he can get his money back with is shear raw power and control.

And using the PTP as a puppet will work less easily than PPP did.

He can only 'recoup', to get his cash back, and that's more worrisome....

I can barely find Potjamin appealing back then, and one daughter has possibilities now,

if you ignore the ubber smug smiles or whinging...

Oaks a lost cause even with 2 years with a katoey sister working night and day.

[hideki]

On Friday, the Supreme Court's Criminal Division for Political Office Holders ordered the seizure of more than Bt46 billion of Thaksin's assets found to have been earned dishonestly while serving as prime minister. The court found that Thaksin used his children as nominees to hold massive shares in the family-owned Shin Corp.

and that finding is appropriately and logically followed by:

Court accepts false assets statement against Thaksin

The Supreme Court's Criminal Division for Holders of Political Office Wednesday agreed to proceed with the charge against former prime minister Thaksin Shinawatra who was accused of filing false assets statement.

The panel of 9 judges agreed to proceed with the case filed by the National Anti-Corruption Commission against Thaksin.

The court scheduled the first hearing on July 29 at 1 pm.

The NACC filed the suit with the court, alleging that Thaksin failed to declare his shares held by his children. The NACC took the action after the Supreme Court's Criminal Division for Holders of Political Office ruled to seize Thaksin's Bt40 billion of assets after convicting him of having abused his power to amass the assets.

The court ruled that the assets belonged to Thaksin, but he hid them in the names of his children and other family members.

As a result, the NACC charged that Thaksin falsified his financial statements upon taking and leaving office as the prime minister.

The Nation

Court accepts fasle assets statement against Thaksin

[chantorn]

After the supreme court decison the kids cant really owe tax. Either the tax department drop the case or the tax department loses the case. The tax departments case that hasnt gone to judgement is likely not enough for a rehearing on the supremes as it has been around for quite sometime. In fact iirc it was raised under a PPP government.

The AEC investigative body thing is for poltical capital but also opens up the avenue of reintroducing the 1997 constitution. Part of this will mean a new constitutional court under the 1997 rules which means a return to a majority of poltical appointees over lawyers (previously this was a very very contentious issue). Then ask this new court to rule on the AEC which could mean the case falls on a technicality of an unauthorized prosecutor. I doubt the Thaksin side have missed this obvious route for them. If they can win an election big enough and if they can ram the old constitution back in then it is likely they can load a new constitutional court with enough poltical appopintees to get Thaksin his money back

There are other options but this one becomes a nice way of doing it all aboveboard and legally

The point is the shares WERE sold,

and whomever is responsible must still pay the taxes on that sale.

The kids or the parents, or whatever 'legal entity' would claim the money goes to it.

the money must be paid, and that logically comes from the remaining 30 billion.

No matter who does pay it, the taxman gets his share.

You are 100% right.

All income from share sales needs to pay a 37% tax in Thailand.

Thaksin did not pay, so the court have to take.

[rubl]

After the supreme court decison the kids cant really owe tax. Either the tax department drop the case or the tax department loses the case. The tax departments case that hasnt gone to judgement is likely not enough for a rehearing on the supremes as it has been around for quite sometime. In fact iirc it was raised under a PPP government.

The AEC investigative body thing is for poltical capital but also opens up the avenue of reintroducing the 1997 constitution. Part of this will mean a new constitutional court under the 1997 rules which means a return to a majority of poltical appointees over lawyers (previously this was a very very contentious issue). Then ask this new court to rule on the AEC which could mean the case falls on a technicality of an unauthorized prosecutor. I doubt the Thaksin side have missed this obvious route for them. If they can win an election big enough and if they can ram the old constitution back in then it is likely they can load a new constitutional court with enough poltical appopintees to get Thaksin his money back

There are other options but this one becomes a nice way of doing it all aboveboard and legally

The point is the shares WERE sold,

and whomever is responsible must still pay the taxes on that sale.

The kids or the parents, or whatever 'legal entity' would claim the money goes to it.

the money must be paid, and that logically comes from the remaining 30 billion.

No matter who does pay it, the taxman gets his share.

You are 100% right.

All income from share sales needs to pay a 37% tax in Thailand.

Thaksin did not pay, so the court have to take.

From what I remember reading a few years ago, the issue is a little bit more complicated, like a possible loophole having been used to avoid paying taxes. Of course that is also something a PM and his family shouldn't do. A PM is the executive head of the country and as such MUST be an example of how to behave.

[hideki]

Top court to hear Thaksin case on July 29

By THE NATION

Published on June 24, 2010

The Supreme Court will hold its first hearing on July 29 in the false asset declarations case against fugitive former premier Thaksin Shinawatra.

According to the National Anti-Corruption Commission (NACC), Thaksin and his ex-wife did not declare their assets and liabilities correctly while Thaksin was holding public office, as evidenced by the February 26 court verdict.

The ex-premier and his spouse used nominees to hide their assets, thus violating the NACC law on mandatory asset and liability declaration by public-office holders, the anti-graft agency contends.

On February 26, the court confiscated Bt46 billion of Thaksin and his family's wealth on grounds of abuse of power to benefit Shin Corp shareholdings at the expense of state agencies such as TOT and CAT.

The Shinawatra family's majority shares in Shin Corp were sold to Singapore's Temasek Holdings in 2006.

Meanwhile, the Department of Special Investigation (DSI) board of directors yesterday resolved to accept the Shin Corp stock-ownership case involving Thaksin and his ex-wife as a special criminal case.

DSI Director-General Tharit Phengdit said the move followed the Securities and Exchange Commission's charges against Thaksin and his ex-wife in connection with the Supreme Court's February 26 verdict.

According to the SEC law's articles 246 and 247, anyone who owns 5 per cent or more of a listed company must report their holdings to the SEC.

They are also required to make a tender offer if they acquire 25 per cent or more shares of the listed company.

Based on the court's verdict, Thaksin and his ex-wife concealed their shareholdings in Shin Corp and failed to comply with the SEC law.

Top court to hear Thaksin case on July 29

[scorecard]

Much that I have little respect for the half-truths usually uttered by MP Surapong Tovichakchaikul (My local Chiang Mai MP I believe), he has a good point here.

By demanding tax on the sale of shares to the siblings the State is admitting they were the true owners of the shares. If the Supreme court has ruled that Thaksin remained the proxy owner then it's unfair to then rule that tax was payable on an ownership transfer which the highest court has ruled wasn't a genuine sale.

It's one or the other, a conundrum that will have to go to the Supreme Court in the case of a tax claim and dispute.

As to an appeal, I fully expect this to be lodged even if no new evidence appears, isn't this standard in Thailand. How often do you hear of big noodles losing cases, only to appeal and avoid any jail time or losses while the case gets quietly squashed and is never heard of again (remember the ECC execs sentenced to jail time? They're still out on appeal).

An appeal case would be the next strategy for Thaksin's defence team, even if the court refuse to accept it on 'new evidence' grounds, it will give them a chance to present to the public various inconsistencies of this complicated case (such as the tax dilemma mentioned above), and even if it gets chucked out they will score points of 'double standards' sympathy in the war for hearts and minds of the people.

And so it goes on and on, lots of energy wasted on the squabbling instead of uplifting the poor.

"And so it goes on and on, lots of energy wasted on the squabbling instead of uplifting the poor". Certainly agree with this point.

And the lawyer said that they may need more time to appeal (more than the 30 days set down in Thai legal process). The gall of these people, just imagine a poor farmer or a poor office worker asking for 'more time' to appeal. Their application for an extension would simply be laughed at.

This brings up the red shirts (thaksin and his family's naive manipulated foot soldiers) claims that they want equal justice for all and no double standards.

Gotta make you laugh.

Edited June 24, 2010 by scorecard

[scorecard]

After the supreme court decison the kids cant really owe tax. Either the tax department drop the case or the tax department loses the case. The tax departments case that hasnt gone to judgement is likely not enough for a rehearing on the supremes as it has been around for quite sometime. In fact iirc it was raised under a PPP government.

The AEC investigative body thing is for poltical capital but also opens up the avenue of reintroducing the 1997 constitution. Part of this will mean a new constitutional court under the 1997 rules which means a return to a majority of poltical appointees over lawyers (previously this was a very very contentious issue). Then ask this new court to rule on the AEC which could mean the case falls on a technicality of an unauthorized prosecutor. I doubt the Thaksin side have missed this obvious route for them. If they can win an election big enough and if they can ram the old constitution back in then it is likely they can load a new constitutional court with enough poltical appopintees to get Thaksin his money back

There are other options but this one becomes a nice way of doing it all aboveboard and legally

The point is the shares WERE sold,

and whomever is responsible must still pay the taxes on that sale.

The kids or the parents, or whatever 'legal entity' would claim the money goes to it.

the money must be paid, and that logically comes from the remaining 30 billion.

No matter who does pay it, the taxman gets his share.

You are 100% right.

All income from share sales needs to pay a 37% tax in Thailand.

Thaksin did not pay, so the court have to take.

From what I remember reading a few years ago, the issue is a little bit more complicated, like a possible loophole having been used to avoid paying taxes. Of course that is also something a PM and his family shouldn't do. A PM is the executive head of the country and as such MUST be an example of how to behave.

Dear rubi,

You said: "From what I remember reading a few years ago, the issue is a little bit more complicated, like a possible loophole having been used to avoid paying taxes. Of course that is also something a PM and his family shouldn't do. A PM is the executive head of the country and as such MUST be an example of how to behave."

Thanks for the very apropriate reminder.

[Rucharee]

Tax from what?

Sales of shares in the stock market?

ROTFLOL

[animatic]

Tax from what?

Sales of shares in the stock market?

ROTFLOL

Yes, exactly, it's called Capital Gains Taxes and is levied on ALL transactions

as a percentage of profits made at time of sale relative to purchase price.

This is standard practicve in most all national bourses.

Sales of stocks are investiments or a particulaly percentage of a valuation of an actual

hard asset, a companies net value and it's physical premesis.

If you buy stock you are buying a portion of a comany, and it's assets.

Just like buying a truck to move your vegtables to market,

when you sell the truck and re-register it an sales tax is usually

paid on the book value of that asset; a vheicle for doing business.