Thailand's AMLO to impound assets of VAT fraud suspect

[webfact]

AMLO to impound assets of VAT fraud suspect



BANGKOK: -- Officials from the Anti Money Laundering Office raided four properties in Bangkok and Nakhon Ratchasima of a suspect in connection with the four billion baht value added tax (VAT) refund fraud in the bid yo impound all the properties for probe of their sources of funds.

The first place where AMLO officials led by its chief Pol Col Sihanart Prayoonrat searched was on Soi Chaengwattana 10 in Laksi district of Bangkok owned by Mrs Patcharee Sirichote, a businesswoman who owns The Hill Hotel in Pak Chang district of Nakhon Ratchasima.

The property on Chaengwattana houses covers an area of four rai and houses two buildings.

AMLO chief said the search of four locations in Bangkok and Nakhon Ratchasima of Mrs Patcharee was to find more evidence involved in the VAT fraud.

He said Mrs Patcharee is among a suspected member of the VAT fraud gang which illegally claimed VAT refund from the Revenue Department of over four billion baht in the past few years.

He said all her assets would be impounded for investigation if the were derived from the refunds.

Source: http://englishnews.thaipbs.or.th/amlo-impound-assets-vat-fraud-suspect/


-- Thai PBS 2014-06-27

[ratcatcher]

One can only imagine the trauma that this poor lady is experiencing at this time.

[Tatsujin]

. . . illegally claimed VAT refund from the Revenue Department of over four billion baht in the past few years . . .

Wow . . . that's a large chunk of change to get "refunded" . . .

[Tywais]

. . . illegally claimed VAT refund from the Revenue Department of over four billion baht in the past few years . . .

Wow . . . that's a large chunk of change to get "refunded" . . .

Seems a few checks and balances have gone missing.

[bangrak]

. . . illegally claimed VAT refund from the Revenue Department of over four billion baht in the past few years . . .

Wow . . . that's a large chunk of change to get "refunded" . . .

Yeah, and the 'officials' didn't see anything suspicious during those 'few years', or were some of them part of the criminal ring too, maybe...?

[Misterwhisper]

Surely some revenue department officials must've been involved.

Thailand's VAT rate is set at 7 per cent. If the allegedly claimed VAT "refund" was over 4 billion Baht, the claimants had to submit sales bills amounting to around 58 billion Baht (i.e. equivalent to more than 1.4 billion euros, or 1.2 pounds, or 1.8 billion dollars).

And nobody at the revenue department blinked an eye?

[marcusd]

Surely some revenue department officials must've been involved.

Thailand's VAT rate is set at 7 per cent. If the allegedly claimed VAT "refund" was over 4 billion Baht, the claimants had to submit sales bills amounting to around 58 billion Baht (i.e. equivalent to more than 1.4 billion euros, or 1.2 pounds, or 1.8 billion dollars).

And nobody at the revenue department blinked an eye?

It would depend on what monetary volumes and what business volumes she did and over what period of time. these people usually do it over several business strutures and over a few years.

it is the culmulative affect over a period of time that counts

[Misterwhisper]

Surely some revenue department officials must've been involved.

Thailand's VAT rate is set at 7 per cent. If the allegedly claimed VAT "refund" was over 4 billion Baht, the claimants had to submit sales bills amounting to around 58 billion Baht (i.e. equivalent to more than 1.4 billion euros, or 1.2 pounds, or 1.8 billion dollars).

And nobody at the revenue department blinked an eye?

It would depend on what monetary volumes and what business volumes she did and over what period of time. these people usually do it over several business strutures and over a few years.

it is the culmulative affect over a period of time that counts

Yes, I suppose you're right. These people wouldn't just waltz in and slam 58 billion Baht worth of sales receipts on the table.

[surangw]

so whenever their is big money involved, fraud is suspected ( and not just thailand)

[thairay]

V.A.T. itself is a fraud......value added ? i don't see it the TAX part i get...as i said fraud

[GAZZPA]

so whenever their is big money involved, fraud is suspected ( and not just thailand)

Erm, no not really.

There are big monetary transactions taking place all the time all over the world without suspicion of fraud. In this case fraud is suspected, so assets are being frozen while it is investigated, not sure what your point is or where you got it from.

[Thai at Heart]

Ironically the way to solve this is to make VAT a higher value.

People with claim it more often and it will close the paper chain better the more people who claim

[TPI]

One can only imagine the trauma that this poor lady is experiencing at this time.

It's awful the way these "yellow "shirts are picking on these poor struggling people!!!

[ggold]

Ironically the way to solve this is to make VAT a higher value.

People with claim it more often and it will close the paper chain better the more people who claim

I don't think that Thai people would be happy with a vat rise! but then it should not matter how much vat is. If the VAT office do their job then fraud should not be possible. Neither do I think that because of the VAT rate at the moment, People are not claiming it back! Though I don't think people themselves can claim back VAT it is only companies is it not?

A fraud this big must involve people who work in the tax office! IMO

[Thai at Heart]

Ironically the way to solve this is to make VAT a higher value.

People with claim it more often and it will close the paper chain better the more people who claim

I don't think that Thai people would be happy with a vat rise! but then it should not matter how much vat is. If the VAT office do their job then fraud should not be possible. Neither do I think that because of the VAT rate at the moment, People are not claiming it back! Though I don't think people themselves can claim back VAT it is only companies is it not?

A fraud this big must involve people who work in the tax office! IMO

In China its 20%, they even run a lottery given on scratch cards for invoices. That closed the loopholes very rapidly.

No invoice not vat back. Make it 20%, and everyone wants their invoices.

[ggold]

Ironically the way to solve this is to make VAT a higher value.

People with claim it more often and it will close the paper chain better the more people who claim

I don't think that Thai people would be happy with a vat rise! but then it should not matter how much vat is. If the VAT office do their job then fraud should not be possible. Neither do I think that because of the VAT rate at the moment, People are not claiming it back! Though I don't think people themselves can claim back VAT it is only companies is it not?

A fraud this big must involve people who work in the tax office! IMO

In China its 20%, they even run a lottery given on scratch cards for invoices. That closed the loopholes very rapidly.

No invoice not vat back. Make it 20%, and everyone wants their invoices.

how much are the lottery scratch cards? What's the Vat treashold, i.e at what level do they start paying VAT? I could suggest that at 20% it would encourage people to do cash under that table deals. At the end of the day if the tax people aren't efficient at collecting the tax then people can get away with a lot BT4 billions worth!