Thaksin's Children To Be Forced To Pay Income Tax At 37 Per Cent Rate

[hammered]

Expanded article from above...

Revenue starts seizing assets of Thaksin kids

Siblings failed to pay tax, fines by deadline

The Revenue Department has begun the process of seizing the assets of the Shinawatra siblings after they failed to pay back taxes and fines totaling 12 billion baht by the imposed deadline. Sanit Rangnoi, the Department's Director-General, has asked the Bank of Thailand, commercial banks and the Land Department to list the assets of Panthongtae and Pinthongta Shinawatra and submit them to the department. Mr Sanit said the Department is looking for assets that have not been seized by the Assets Scrutiny Committee (ASC) or been put up as collateral or mortgaged. The Department is authorised to proceed with asset seizure without coordinating with the ASC, he said. The siblings were accused by the ASC of evading tax on the capital gains they made from the share transactions related to Shin Corp's takeover by Singapore's Temasek Holdings. A source in the Department said yesterday that authorities have located some assets of the siblings which can be confiscated to settle the back taxes and fines. However, the department is required by law to ask agencies concerned, which include the Central Bank and the Land Department, to be sure that the assets have not been put up as collateral or mortgaged.

Continued here:

http://www.bangkokpost.com/News/16Nov2007_news04.php

=============================================================

and STILL they get referred to as "kids".... whereas Panthongtae is soon to be 29 in 2 weeks and Pinthongta is 26. Perhaps when they are in their mid-40's, the media will drop the "kids" moniker.

It may have something to do with how they act and are treated by their parents. Pinthongtha's little I am just a silly little girl and know nothing about business or legal things act was hardly the stuff of a responsible adult who has had a decent education. And while on the subject of education we shouldnt forget the bizarre circumstance in which Panthongtae graduated from Thailands largest university resulting in the down valuing of every certificate ever issued by said institution. Maybe kids isnt too far from the truth certainly in terms of ability to accept responsibilty for ones own actions a quality which adults are expected to have.

[sriracha john]

Expanded article from above...

Revenue starts seizing assets of Thaksin kids

=============================================================

and STILL they get referred to as "kids".... whereas Panthongtae is soon to be 29 in 2 weeks and Pinthongta is 26. Perhaps when they are in their mid-40's, the media will drop the "kids" moniker.

It may have something to do with how they act and are treated by their parents. Pinthongtha's little I am just a silly little girl and know nothing about business or legal things act was hardly the stuff of a responsible adult who has had a decent education. And while on the subject of education we shouldnt forget the bizarre circumstance in which Panthongtae graduated from Thailands largest university resulting in the down valuing of every certificate ever issued by said institution. Maybe kids isnt too far from the truth certainly in terms of ability to accept responsibilty for ones own actions a quality which adults are expected to have.

Very true. It'll be a real wake-up to these "kids" when they are faced with adult repercussions for their adult actions.

It certainly would go a long way in maturing these two to spend some time behind bars. A real cold-slap-in-the-face snapback to reality.

and yes, Panthongtae's experiences at the other university, wherein as someone in the their 20's... he cheated on an exam in the same as a 3rd grader would, thus confirming his child-like existence as a man.

Edited November 16, 2007 by sriracha john

[plachon]

Expanded article from above...

Revenue starts seizing assets of Thaksin kids

=============================================================

and STILL they get referred to as "kids".... whereas Panthongtae is soon to be 29 in 2 weeks and Pinthongta is 26. Perhaps when they are in their mid-40's, the media will drop the "kids" moniker.

It may have something to do with how they act and are treated by their parents. Pinthongtha's little I am just a silly little girl and know nothing about business or legal things act was hardly the stuff of a responsible adult who has had a decent education. And while on the subject of education we shouldnt forget the bizarre circumstance in which Panthongtae graduated from Thailands largest university resulting in the down valuing of every certificate ever issued by said institution. Maybe kids isnt too far from the truth certainly in terms of ability to accept responsibilty for ones own actions a quality which adults are expected to have.

Very true. It'll be a real wake-up to these "kids" when they are faced with adult repercussions for their adult actions.

It certainly would go a long way in maturing these two to spend some time behind bars. A real cold-slap-in-the-face snapback to reality.

and yes, Panthongtae's experiences at the other university, wherein as someone in the their 20's... he cheated on an exam in the same as a 3rd grader would, thus confirming his child-like existence as a man.

What got me about the incident was not so much the fact that he did use a cribsheet (one could expect cheating coming from his lineage, and hey, he actually sat the exam, rather than pay some underling pii to go in his stead), but rather the Deputy Dean of RU's reaction (who was assigned to face the press) which went something along the lines of "Hey, he's only a kid and we should n't be too hard on kids. In any case everyone does it." Thus he got away scot-free and was excused even of the need to deny the cheating allegation.

The fact there wasn't a massive show of indignation and protest by teaching staff, fellow students and indeed everyone who ever got a degree from RU speaks volumes about the Thai education system and vindicates my decision to remove my daughter from it.

[Tony Clifton]

Expanded article from above...

Revenue starts seizing assets of Thaksin kids

=============================================================

and STILL they get referred to as "kids".... whereas Panthongtae is soon to be 29 in 2 weeks and Pinthongta is 26. Perhaps when they are in their mid-40's, the media will drop the "kids" moniker.

It may have something to do with how they act and are treated by their parents. Pinthongtha's little I am just a silly little girl and know nothing about business or legal things act was hardly the stuff of a responsible adult who has had a decent education. And while on the subject of education we shouldnt forget the bizarre circumstance in which Panthongtae graduated from Thailands largest university resulting in the down valuing of every certificate ever issued by said institution. Maybe kids isnt too far from the truth certainly in terms of ability to accept responsibilty for ones own actions a quality which adults are expected to have.

Very true. It'll be a real wake-up to these "kids" when they are faced with adult repercussions for their adult actions.

It certainly would go a long way in maturing these two to spend some time behind bars. A real cold-slap-in-the-face snapback to reality.

and yes, Panthongtae's experiences at the other university, wherein as someone in the their 20's... he cheated on an exam in the same as a 3rd grader would, thus confirming his child-like existence as a man.

What got me about the incident was not so much the fact that he did use a cribsheet (one could expect cheating coming from his lineage, and hey, he actually sat the exam, rather than pay some underling pii to go in his stead), but rather the Deputy Dean of RU's reaction (who was assigned to face the press) which went something along the lines of "Hey, he's only a kid and we should n't be too hard on kids. In any case everyone does it." Thus he got away scot-free and was excused even of the need to deny the cheating allegation.

The fact there wasn't a massive show of indignation and protest by teaching staff, fellow students and indeed everyone who ever got a degree from RU speaks volumes about the Thai education system and vindicates my decision to remove my daughter from it.

It's exactly because of behavior like this that we've decided a while ago that our son will never see the inside of a Thai school or grow up in Thai society. The family will move overseas and we'll leave a life of semi-retirement in our early forties because here there is just no other way. I may have made mistakes in my life but this is one I can see coming from years away. Thai education? Won't happen.

[Jai Dee]

Revenue Department to discuss with AEC over sales of Shin Corp shares

The Revenue Department will have a discussion with the Asset Examination Committee (AEC)'s subcommittee responsible for examining the trade of Shin Corp shares today (November 21st). The discussion will cover the the progress of the investigation into the assets of Mr. Panthongtae (พานทองแท้) and Ms. Pinthongta Shinawatra (พิณทองทา ชินวัตร). The AEC has seized 1.035 billion baht of assets from the Shinawatra family.

The Revenue Department claims that it needs more information from the Bank of Thailand (BOT), the Land Department and other organizations before taking further actions. The Director-General of the Revenue Department, Mr. Sanit Rangnoi (ศานิต ร่างน้อย), has reportedly extended the timeline for both Mr. Panthongtae and Ms.Pinthongta to pay all taxes till December 5th, but it could be a misunderstanding.

The Revenue Department warns if the AEC fail to confiscate their assets, it will acknowledge that no party is working on this case.

Source: Thai National News Bureau Public Relations Department - 21 November 2007

[Jai Dee]

Thaksin's daughter appeals assets freeze

The lawyer for Pinthongta Shinawatra, daughter of ousted premier Thaksin, presented documents to the Assets Scrutiny Committee, asking it to unfreeze assets of Ms Pinthongta.

Lawyer Kittiporn Arunrat said part of the evidence to support that Ms Pinthongta's assets are earned through legal means was submitted on Wednesday while the rest will have to be wait until Securities and Exchange Commission (SEC) and Stock Exchange of Thailand (SET) to provide him more information.

More from the Bangkok Post here.

[Jai Dee]

Thailand seeks assets of Thakin's children

Thailand is hunting the assets of ousted prime minister Thaksin Shinawatra's children after they failed to pay $US355 million in taxes and fines relating to the sale of the family empire.

The Revenue Department has sent letters to banks and financial firms searching for assets belonging to Thaksin's son and daughter, Phantongtae and Pinthongta.

The head of the revenue department, Sanit Rangnoy, says they expect to be able to seize those assets from those financial institutions from early December.

The seizure began after the department's appeal panel upheld a ruling by an anti-corruption body set up by the military which ousted Thaksin in a bloodless coup last year.

The anti-graft committee ruled that Thaksin's children broke tax laws in the $US3.8 billion sale of telecommunications conglomerate Shin Corp to Singapore's Temasek.

The deadline for the $355 million back tax and fine payments has passed, allowing tax officials to start the seizure.

Source: ABC Radio Australia - 21 November 2007

[Jai Dee]

AEC says Revenue Department can seize assets of ex-PM’s children

Chairman of the Assets Examination Committee (AEC), Nam Yimyaem (นาม ยิ้มแย้ม), says AEC has already sent a letter to the director-general of the revenue department, requesting him to seize assets of more than one billion baht of the former premier’s children, Panthongtae (พานทองแท้) and Pinthongta (พินทองทา) Shinawatra (ชินวัตร).

Mr Nam said that the AEC was tardy in its seizure of the Shinawatra asset as he was on a recent trip abroad, however Mr Nam said the deputy director-general can make decisions on behalf of the director-general.

Meanwhile, AEC invites five people involved in the procurement of fire truck procurement of the Bangkok Metropolitan Administration, including ex-Bangkok governor and leader of the People Power Party Samak Sundaravej (สมัคร สุนทรเวช), to hear charges against them today.

Source: Thai National News Bureau Public Relations Department - 21 November 2007

[sriracha john]

Thailand to seize assets of Thaksin's children

BANGKOK - Thailand is hunting the assets of ousted Prime Minister Thaksin Shinawatra's children after they failed to pay $355 million in taxes and fines relating to the sale of the family empire, a tax official said on Wednesday.

The Revenue Department has sent letters to banks and financial firms searching for assets belonging to Thaksin's son and daughter, Phantongtae and Pinthongta, said Sanit Rangnoy, the head of the department.

"We expect to be able to seize those assets from those financial institutions from early December," Sanit told Reuters.

The seizure began after the department's appeal panel upheld a ruling by an anti-corruption body set up by the military which ousted Thaksin in a bloodless coup last year.

The anti-graft committee ruled that Thaksin's children broke tax laws in the $3.8 billion sale of telecommunications conglomerate Shin Corp to Singapore's Temasek.

The deadline for the 12 billion baht ($355 million) back tax and fine payments had passed, allowing tax officials to start the seizure, Sanit said.

The Shinawatra children, both directors of Manchester City football club which their father bought in July, could appeal against the Revenue Department's seizure order through the Tax Court, revenue officials said. There was no word from them.

The tax-free Shin sale outraged Thailand's urban middle-class voters who staged Bangkok street demonstrations, leading to the overthrow of Thaksin.

Phantongtae and Pinthongta, both in their 20s, acquired the Shin shares through an offshore company which Thaksin founded at 1 baht each.

They then sold 329 million shares in Shin, which has interests in telecommunications, satellites and television, to Temasek at 49.25 baht each.

Thaksin, who lives in exile in London, always insisted the Shin sale satisfied all the rules in Thailand.

- Reuters

[sriracha john]

ASC head urges immediate seizure of Shinawatra siblings' assets

Assets Scrutiny Committee (ASC) chairman Nam Yimyaem yesterday asked the Revenue Department to move immediately to seize the assets of the Shinawatra siblings even though the Department Director-General is now abroad. His request comes as officials appear to have slowed the seizure process, pending further orders by their Department Chief Sanit Rangnoi, despite the fact that the department has told Panthongtae and Pinthongta to pay back tax and fines totalling 12 billion baht since July. ''The Revenue Department should take further action immediately,'' Mr Nam said.

Continued here:

http://www.bangkokpost.com/News/22Nov2007_news08.php

[John K]

It makes you wonder if Thaksin is still in control of things he never should of had control of in the first place. (Or at the very least he is paying someone to delay)

[sriracha john]

AEC Chief Orders Immediate Seizure of Thaksin’s Kids’ Assets

Assets Examination Committee (AEC) Chairman Nam Yimyaem yesterday urged the Revenue Department to expedite an immediate seizure on the assets of the Shinawatra’s children, Panthongtae and Pinthongta Shinawatra.

The AEC Chairman’s order followed prolong procrastination of the seizure process, where officials were awaiting further orders of their department head, Sanit Rangnoi.

Since July, both children of deposed Prime Minister Thaksin Shinawatra, Panthongtae and Pinthongta Shinawatra have been informed by the department to pay their back taxes and fines worth 12 billion baht.

The two billionaires were alleged by the committee for evading taxes on their capital gains made from the sale of Shin Corp. shares to Temesek holding of Singapore in early 2006.

Though the Department’s Director-General is currently abroad, Mr. Nam has asked the Revenue Department to immediately take action on the matter.

According to a bureaucratic regulation, officials in the chain of command are allowed to carry on with their assigned duties regardless of their superior’s presence, explained the AEC Chief.

- Thailand Outlook

[ando]

Did anyone ever think the outcome would be any different while the political and legal systems in the country are ruled at the point of a gun by a military junta extremely hostile to Thaksin, his family and his supporters?

[John K]

Did anyone ever think the outcome would be any different while the political and legal systems in the country are ruled at the point of a gun by a military junta extremely hostile to Thaksin, his family and his supporters?

Please explain your key points.

[younghusband]

Did anyone ever think the outcome would be any different while the political and legal systems in the country are ruled at the point of a gun by a military junta extremely hostile to Thaksin, his family and his supporters?

Please explain your key points.

What's there to explain? It's not exactly the way I would describe it because reality is more nuanced but in essence it makes the point that free institutions struggle to remain functional and independent under a military regime.The honourable people in the government,like Surayud, freely admit this and it is precisely for this reason that the country is being returned to constitutional democracy.Even those who welcomed the coup as way of clearing the logjam could not have been prepared for the catalogue of incompetence that accompanied the illegal takeover.

Despite the barrage of half-truths and sometimes blatant lies from the more obsessive juntophiles, the reality remains that Thaksin -notwithstanding his meglomaniac record- remains the most popular politician in the country and most of the political parties, not just the PPP, have adopted significant elements of his "populist" (translation:what the majority of people need) political platform.Meanwhile the feudal reactionaries and their military hangers on are visibly losing ground.Thaksin sits across the water but is visibly gaining ground.Looks like he's winning to me me.It's just a question of time for a deal to be thrashed out but to me he looks a winner (I admit a rather depressing thought).

[John K]

Actually younghusband the question was directed at ando, I wanted to see how this actually exists seeing that the junta has been dormant for over 6 months and the government is running things at the moment. Perhaps I missed some tank lurking in the backyard of the government house.

[John K]

OK lets see here on checking the score;

Number of times announced they will start collecting: at least 2

Amount of money or tangibles collected thus far : 0

[John K]

Revenue chief to be grilled over taxes of Thaksin's children

The Revenue Department director-general will be summoned by a sub-committee of the Assets Examination Committee to be questioned over the delay in action against two children of former prime minister Thaksin Shinawatra.

A source from the sub-committee investigating the sale of Shin Corp's shares said Revenue chief Sanit Rangnoi will be demanded an explanation why he had not so far taken any action against Parntongtae and Pintongta Shinawatra.

The source said the sub-committee concluded that the two had to pay taxes for Bt1 billion over the sale of shares to Temasek Holdings and had told the Revenue Department to collect the taxes since August 3.

The source said the department should have frozen assets of the two pending rulings of the primary, appeals and supreme tax courts.

The Nation

Do you think there is a chance Thaksin may have paid a little to keep a lot here?

[Tony Clifton]

He'll blame it all on internal procedure and subordinates while he never took a stance himself as top dog to get things rolling. There's plenty more still anchored in high and low places ready to do anything for the Little Emperor, hoping to be showered with riches upon the mess-sire's return. The same happened when the Little Emperor made public appearances, many showed up just in case he would pull out 1000 baht notes for all out of his magic pocket like they saw him do in Roi Et.

[hammered]

He'll blame it all on internal procedure and subordinates while he never took a stance himself as top dog to get things rolling. There's plenty more still anchored in high and low places ready to do anything for the Little Emperor, hoping to be showered with riches upon the mess-sire's return. The same happened when the Little Emperor made public appearances, many showed up just in case he would pull out 1000 baht notes for all out of his magic pocket like they saw him do in Roi Et.

An interesting aside from muang Chonburi. When just befoer his ouster he was doing his tour to met the adoring masses, paople werer told 300 baht per person to show in Chonburi and 1000 baht fopr each somgthaew bringing people. Well th grand master showed as did about 30 people. He was not a happy camper. The next day in the market the few who had gone were moaning as they hadnt recieved their 300. And of course wehile the cowardly media at the time showed hinm in front a of a few Isaan and Chiang Mai throngs at the top of the news, the Chonburi humiliation never got an airing.

[Tony Clifton]

He'll blame it all on internal procedure and subordinates while he never took a stance himself as top dog to get things rolling. There's plenty more still anchored in high and low places ready to do anything for the Little Emperor, hoping to be showered with riches upon the mess-sire's return. The same happened when the Little Emperor made public appearances, many showed up just in case he would pull out 1000 baht notes for all out of his magic pocket like they saw him do in Roi Et.

An interesting aside from muang Chonburi. When just befoer his ouster he was doing his tour to met the adoring masses, paople werer told 300 baht per person to show in Chonburi and 1000 baht fopr each somgthaew bringing people. Well th grand master showed as did about 30 people. He was not a happy camper. The next day in the market the few who had gone were moaning as they hadnt recieved their 300. And of course wehile the cowardly media at the time showed hinm in front a of a few Isaan and Chiang Mai throngs at the top of the news, the Chonburi humiliation never got an airing.

I believe the only station that showed and still shows it is ASTV. Thaksin kept on making his speech while cool torrential rain poured on his hot head. That's where the famous picture of a soaked Thaksin, in a blue shirt and hair pasted to his skull, comes from. Sonthi L. had even prayed for the rain water and wiring on stage to come together and rid the nation of the pest once and for all.

[sriracha john]

He'll blame it all on internal procedure and subordinates while he never took a stance himself as top dog to get things rolling. There's plenty more still anchored in high and low places ready to do anything for the Little Emperor, hoping to be showered with riches upon the mess-sire's return. The same happened when the Little Emperor made public appearances, many showed up just in case he would pull out 1000 baht notes for all out of his magic pocket like they saw him do in Roi Et.

An interesting aside from muang Chonburi. When just befoer his ouster he was doing his tour to met the adoring masses, paople werer told 300 baht per person to show in Chonburi and 1000 baht fopr each somgthaew bringing people. Well th grand master showed as did about 30 people. He was not a happy camper. The next day in the market the few who had gone were moaning as they hadnt recieved their 300. And of course wehile the cowardly media at the time showed hinm in front a of a few Isaan and Chiang Mai throngs at the top of the news, the Chonburi humiliation never got an airing.

I believe the only station that showed and still shows it is ASTV. Thaksin kept on making his speech while cool torrential rain poured on his hot head. That's where the famous picture of a soaked Thaksin, in a blue shirt and hair pasted to his skull, comes from. Sonthi L. had even prayed for the rain water and wiring on stage to come together and rid the nation of the pest once and for all.

[sriracha john]

Revenue chief warned for dragging feet

The Assets Scrutiny Committee will summon the Director-General of the Revenue Department to clarify his delayed action in seizing the assets of the children of deposed PM Thaksin Shinawatra, if the department chief fails to give the process a push on Monday, a source at the ASC said. The ASC is not happy with Sanit Rangnoi, the Department's Director-General, for having slowed the process of seizing the assets. The amount in question is 12 billion baht in back taxes and fines. The source said the Revenue Department needed to seize the assets first because the tax case was expected to be fought in three courts, which could take as long as seven years to settle. The problem is the assets are transferable in that period, which could make the department's efforts to seize the assets go in vain, even if it eventually wins the case, the source said.

Continued here:

http://www.bangkokpost.com/News/01Dec2007_news20.php

[John K]

You know it would not surprise me to also see that Thaksin’s accounts have been secretly unfrozen. It has been a while since we heard him bark about it.

[John K]

You know it would not surprise me to also see that Thaksin’s accounts have been secretly unfrozen. It has been a while since we heard him bark about it.

There are times when I wish I am not right.

Bank bosses face AEC lawsuit

Unnamed bank 'broke' order by releasing millions from frozen Shinawatra accounts: source

The Assets Examination Committee will file a complaint against executives of a bank for allowing millions of baht in interest to be withdrawn from the frozen accounts of the Shinawatra family, a source said yesterday.

The money on which the interest was earned came from the proceeds of the Shin Corp share sale.

An AEC panel, led by Viroj Laohapan, reported the interest was transferred to saving accounts and the bank had allowed the money to be withdrawn during the run-up to the general election without notifying the AEC.

"The bank executives obviously broke the AEC's order [to freeze the accounts] and committed a criminal offence,'' the source said.

The AEC did not reveal the allegations at a press conference yesterday over concerns about the bank's credibility.

Meanwhile, the AEC panel probing the two-and three-digit lottery scam had found more evidence of irregularities in the use of funds earned from sales, AEC member Udom Fuangfung said.

The panel extended its investigation after finding the Social Development and Human Security Ministry had returned Bt700 million to the Government Lottery Office (GLO) and the Education Ministry had handed over several hundred million more, claiming the money was student grants between 2003-2004.

Udom said the panel suspected irregularities. It believed that had the money been used in accordance with the law, the agencies would have exhausted the funds. The AEC will summon GLO officials over the unused money.

Udom expressed confidence the panel could complete the investigation within this month. It had earlier wanted to wrap up the investigation yesterday.

The panel rejected a request from Khunying Sudarat Keyuraphan for the AEC to summon more witnesses for questioning over the lottery scheme because it believed Sudarat had a motive to delay the investigation, AEC spokesman Sak Korsaengruang said.

The AEC has yet to file charges against former Bangkok city clerk Khunying Nathanon Thavisin over the purchase of fire-fighting equipment because yesterday she submitted a letter with the AEC seeking justice and sympathy.

The AEC had earlier resolved to file charge against Nathanon, Bangkok Governor Apirak Kosayodhin, and former commerce minister Watana Muangsook over the irregularities in the purchase of fire fighting trucks.

Bancha Khaengkhan

The Nation

[John K]

Looks like someone in the bank just had a dance with the devil.

[Tony Clifton]

Watch him blame it on low paid and disposable staff.

[John K]

Watch him blame it on low paid and disposable staff.

That may be hard to do Tony. From what I have been told freezing and locking accounts can only be done by management and not the tellers. However, I am sure he will give it a go anyway.

[sriracha john]

The money for the overdue taxes has now been taken...

Assets of Thai ex-premier's kin seized

BANGKOK, Thailand—Thai tax authorities have seized assets worth about $34.2 million *1,037,970,013 Baht* from family members of former Prime Minister Thaksin Shinawatra, an official said Thursday.

The assets, seized for unpaid taxes, were in the form of stocks, land, and bank accounts, said Assets Examination Committee spokesman Sak Kosaengrueng.

Thai authorities had already frozen more than $2.1 billion *63,735,000,801 Baht* controlled by Thaksin and his family since he was ousted by a coup in September 2006 after being accused of corruption and abuse of power.

Revenue Department Chief Sanit Rangnoi last month announced that his agency would seize the assets of two of Thaksin's adult children because they failed to pay $38 million in taxes from the family's sale last year of its shares in one of Thailand's biggest telecommunications groups, Shin Corp.

The shares had belonged to Ample Rich, a holding company owned by the former leader's daughter Pintongta and son Phantongtae.

The Assets Examination Committee -- a corruption investigation team set up after Thaksin was deposed -- ordered tax authorities in April to collect the unpaid taxes from Pintongta and Phantongtae. Both refused to pay.

- Associated Press

[Tony Clifton]

I'm expecting a comment from one of them someday that goes something like "Now that we've paid,..."