AMLO swoops on 'VAT cheats', seizes assets

[Lite Beer]

AMLO swoops on 'VAT cheats', seizes assets
Piyanut Tumnukasetchai
The Nation

BANGKOK: -- Agents from the Anti-Money Laundering Office (AMLO) conducted simultaneous raids at four locations yesterday in Bangkok in a move to seize assets allegedly acquired by cheating the country of up to Bt4 billion worth of value-added tax.

Among the assets subject to seizure were the Hill Pak Chong hotel in Nakhon Ratchatsima worth Bt100 million, three luxury cars and cash in many bank accounts totalling Bt50 million, AMLO secretary-general Seehanart Prayoonrat said. He added that assets worth around Bt132 million had been confiscated from three individuals on two previous occasions.

The locations raided yesterday included a house in Lak Si district owned by three women identified as Phatcharee, Nutchanart and Namthip Sirichote, who allegedly helped a man called Weerayuth sae-Loke get away with not paying VAT. The three other locations were a house in Bang Yai in Nonthaburi, a condominium near Sathorn Rd in Bangkok and the hotel in Nakhon Ratchasima.

No charges had been pressed against the women as of yesterday.

Seehanart said there might be other people and officials involved in the VAT cheating scheme. After the raids yesterday, AMLO agents confiscated two safes found at the Lak Si home, after Phatcharee refused to give the officers codes to open the safes.

-- The Nation 2014-06-28

[noitom]

Patcharee put her Thai foot down on turning over the codes to the safes.

[Pimay1]

Patcharee put her Thai foot down on turning over the codes to the safes.

No problem if they are Leeco safes. Knock a hole in the top with a screw driver. Cut the top and the second layer out with a can opener and bingo.

[trainman34014]

I hope this is the first of very many such raids as the rich continue to rob the country blind. Everybody and anybody involved should be charged with tax evasion or being complicit in such acts and long prison sentences should be handed down to all concened.

If you are going to do the job dear General; then please make a full and proper job of it.

[tim armstrong]

Way to go ! I like the fact that the people involved were named. That's almost, but not quite as good as a jail sentence

[cgphuket]

My former boss, A Dutch guy, makes all his employees give him their receipts for any major purchases they (personally) make so he can claim the VAT refund. I hope he comes under their scrutiny, but I doubt it will happen. I reported him to several agencies and they wouldn't even return my calls.

[ClutchClark]

I hope this is the first of very many such raids as the rich continue to rob the country blind. Everybody and anybody involved should be charged with tax evasion or being complicit in such acts and long prison sentences should be handed down to all concened.

If you are going to do the job dear General; then please make a full and proper job of it.

I am sure he really needs and appreciates your counsel.

(Sarcasm)

[tomyummer]

Finally. It pays off to keep one set of books and pay taxes.

[UbonRatch]

Patcharee put her Thai foot down on turning over the codes to the safes.

No problem if they are Leeco safes. Knock a hole in the top with a screw driver. Cut the top and the second layer out with a can opener and bingo.

Now I know what your hobby used to be from dusk 'til dawn, Pimay Crowne.

[FangFerang]

I am always curious about the raids -- I honestly wish they would mention raided party's political affiliations. It would show a transparency that would create trust, dismiss suspicions and gain confidence here and abroad for the military government.

If it is not as straightforward as is being reported (or not reported in many cases), they are just crating a rumor mill no one can ever control.

[KhunOr]

My former boss, A Dutch guy, makes all his employees give him their receipts for any major purchases they (personally) make so he can claim the VAT refund. I hope he comes under their scrutiny, but I doubt it will happen. I reported him to several agencies and they wouldn't even return my calls.

Sorry to call you on this, but it is nonsense. Perhaps only due to your lack of knowlwedge of Thai accounting...

In order to claim back VAT your company must be registered for VAT and your company name must appear on the formal VAT receipt issued by the vendor. It is strictly illegal to masquerade as a company if you are not. Therefore as an individual YOU were breaking the law if you claimed to be making purchases on behalf of the company you worked for even though the purchase was for personal use. And YOU were acting illegally (complicit in the crime) if you then gave that receipt to your company boss/accountant.

Also, your story doesn't ring true, as a company that is registered for VAT (not all are) has to submit a VAT declaration form every month. It lists the item purchased, gross and net amount after deducting the VAT paid. The VAT is eventually paid back to the company and the VAT officer will spot pretty quickly if the items claimed have no relation to the company's activities.

And finally, the company P&L has to show the whole transaction in the accounts too, hence all purchases are added to the 'Loss' side of the equation and a company that racks up huge losses will certainly be spotted by the internal auditor and eventually by the Revenue Dept auditors, spelling big trouble.

[buddy]

I hope this is the first of very many such raids as the rich continue to rob the country blind. Everybody and anybody involved should be charged with tax evasion or being complicit in such acts and long prison sentences should be handed down to all concened.

If you are going to do the job dear General; then please make a full and proper job of it.

Pleeease Mr do gooder think a bit deeper!

If like myself as a Westerner i have paid in tens of millions Baht worth of all sorts of taxes including VAT and get absolutely "NOTHING" back in benefits...and i mean not 1 Baht!

However i do see on a daily basis my taxes being robbed by corrupt Government officials and corrupt politicians so where is the incentive to pay to thieves?

Wouldn't you think Thai people will think the same?

No doubt the confiscated amounts mentioned will be pilfered further up the Thai food chain.

[thaipod]

I have posted about this story a couple of months ago . The family is my neighbour .Seerayuth a Chinese business man was a small recycle business run by his wife ,son and daughter ,they became very wealthy over night withen two years the son and daughter were wearing the latest fashions and driving the most expensive cars money can buy and travelling the world also buying land, condos and houses.

My wife and neighbours was always suspicious of this man when he bought half of the soi and the way he became rich and powerful.

The thing is he is still walking around the soi if nothing has happened. He and his family should be in prison.