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

[sriracha john]

During his testimony, Pan-thongtae mostly responded to questions with "I don't know", said Viroj Laohaphan, chairman of the AEC's subcommittee investigating the controversial tax-free transaction.

"He could answer nearly all the questions which were basic in nature. It's likely that we won't invite him again to appear unless we need more information," he said. (Sak Korsangruang)

Such in depth answers. I wonder how long it took for him to memorize, "I don't know."

I know it involves more syllables, but his father's line from his own 2000 hearings is a good one too.

"It was an honest mistake."

At least then, it would allow Oak to sound like he at least understood what he was doing.

[John K]

Am I missing something here, but the fact that all he could say was I don’t know or see mom’s secretary does not release him from responsibility unless ignorance of the law is allowed as a valid excuse.

[Mid]

get the big fish in the net first ,

moving at a frustrating pace i'll grant you ..............

[sriracha john]

ahhhh... I see now.... a secretary was running the whole show at Shin...

well, if she's willing to be the fall guy (or gal) in all of this, I just hope Thakky is giving her suitable compensation for trying to take all the blame and all the responsibility for a multi-multi-billion baht complicated sale.... and she's a secretary...... yeah, right....

in typical fashion, it's Thakky taking taking taking... and putting any negatives on others...

SHIN-CORP SALE

Pojaman secretary says she did deal

Kanjanapa tells AEC she handled all documentation and transfers related to sell-off

The personal secretary of ousted prime minister Thaksin Shinawatra's wife told the Assets Examination Committee yesterday that she had been responsible for transacting the historic Bt73.3-billion sale of Shin Corp shares to Singapore on behalf of the Shinawatra and Damapong families, an AEC source said.

Kanjanapa Honghern said Bhanapot Damapong, the brother of Thaksin's wife Pojaman, had taken part in negotiating the deal while she processed the transfers and documentation for the Bhanapot and Shinawatra family members, including Thaksin's children Panthongtae and Pinthongta, as well as Thaksin's sister Yingluck.

Kanjanapa spent seven hours testifying to the AEC on the tax-free Shin Corp share sale a year ago to Singapore's Temasek Holdings. She gave no interviews afterwards to reporters, and those accompanying her said she was recovering from a hysterectomy.

Kanjanapa said she had also handled the purchase of Shin shares by Panthongtae and Pinthongta from Ample Rich Investments Co Ltd for Bt1 each through Swiss bank UBS, although she brought no evidence to prove her claim, the source said.

This move by Kanjanapa raised the question of whether it signalled a new defence strategy for the Shinawatras, as the Ample Rich deal has been cloaked in mystery.

The AEC asked Kanjanapa to submit documents to support her statement later, the source said.

AEC member Klanarong Chantik said the panel had prepared a list of 50-60 questions to ask Kanjanapa, some similar to and some different from the questions put to Panthongtae when he appeared before the panel on Wednesday. The questions went into more detail as Panthongtae claimed that Kanjanapa had handled the deal on his behalf.

Viroj Laohaphan, head of the panel probing the controversial tax-free sale of Shin shares to Temasek, said Kanjanapa had admitted she knew Pranee Wetchapruekpitak, Pojaman's liaison with the Revenue Department, but they had not been close. She said she had not told Pranee to ask the department if the Shin Corp share sale was taxable and did not know why Pranee had written to the department.

Viroj said Kanjanapa had given useful information, made the panel understand the case more clearly and answered the questions that Panthongtae had been unable to answer.

Panthongtae told the AEC that it had been Kanjanapa who took care of the sale of his Shin Corp shares to Temasek Holdings and he had just signed the paperwork.

During his testimony, Panthongtae mostly responded to questions with "I don't know".

Panthongtae's sister Pinthongta is scheduled to testify to the committee on January 24.

Viroj said the panel should be able to conclude its report before March, the deadline for filing annual tax returns.

To avoid the waiting media, Kanjanapa arrived at the AEC's office at 7.35am, though she was due to go before the panel at 10am.

Kanjanapa let Panicha Raksajjatham, one of three people she brought with her, exchange her identification card for a visitor card.

While waiting for Kanjanapa at the entrance of the AEC building, the media found out this fact from Kanjanapa's attorney, Theerapat Srichaiya, who walked into the building alone at about 10am.

Theerapat said he had not been pressured but had not been allowed into the room with Kanjanapa.

He said Bhanapot, in a separate case involving a tax-free Shin Corp share transaction, would not testify to the AEC in person as summoned but through documents and in court.

The Nation

Edited January 12, 2007 by sriracha john

[Jai Dee]

Panthongtae Shinawatra, son of deposed prime minister, and his partner, arrives at a wedding party in Bangkok on Sunday night. Panthongtae testified last week with assets examination panel over his sales of Shin Corp to Singapore

Source: The Nation - 15 January 2007

[Tony Clifton]

Thaksin's son and lawyer have the same tailor?

[hammered]

Am I missing something here, but the fact that all he could say was I don’t know or see mom’s secretary does not release him from responsibility unless ignorance of the law is allowed as a valid excuse.

Ignorance of the law is no defence in Thailand, and it makes a lot of sense to know and understand everything you sign.

On the other hand these cases are political and political cases all round the world are unpredictable. We only have to go back to 2001 in Thailand to see a case that seemingly could only result in a guilty verdict based on a very recent precedent involving another politician (Sanan). However, under hat has been described as intense pressure the outcome was the politically expedient not-guilty. I wonder how many of those invlved in the intense pressure back then regret that now as we head towards a whole herd of court cases and indictments in a period of much greater division and instability than back then.

[dan10400]

Please can some one help me understand!!!

Some 10 months ago I read an article in The Bangkok Post that there was no Capital Gains Tax on shares traded through the SET.

Also as an investor with stocks every where I know that "shares" when transacted, in other countries attract:

a) Capital Gains Tax

Stamp Duty on the transfer

c) Annual Taxation on any Dividends,

either severally or jointly.

Also if the shares are in a Public Listed Company eg Stock Exchange Thailand, you can trade then On Market or Off Market, either way does not change the Tax issues above, it only reduces Brokerage Fees. I do this Off Market trade every May to balance my tax issues, between the many portfolios me my wife and children own.

Finally the Shinawatra family only owned around 49% of the Communication empire they sold. What about the other 51% of the shares owned I can only assume by everyday Thai retail traders such as me, why have we not heard what their Taxation position will be??

Disclaimer me nor any of my family hold any interests the Thai Sharemarket

not transactions were through the SET (on or off market). there was the little bit about the

holding company selling to the siblings for 1 baht and then sold as part of the acquisition

for 47 baht the next day.

[sriracha john]

Thaksin's son and lawyer have the same tailor?

One musn't forget Panthongtae's dapper-looking uncle's ultra-chic baggy trousers tailoring, as well:

No wonder they've given up on the Hub of Fashion City blah blah blah scheme of Thaksin.

Edited January 15, 2007 by sriracha john

[John K]

Well I suspect this is all a show and most certainly this is not his look. I can imagine some of the personal emails between he and dad ; “Dad how long do I need to keep dressing like a geek? I want to do my hair cool again so I can impress girls. How come you wont let me use the little thing you waved when you did not want to answer questions?”

[sriracha john]

Bannapot Damapong, step-brother of Mr Thaksin's wife Khunying Potjaman, has appealed to the Revenue Department over a tax evasion case against him after placing a letter of bank guarantee worth more than 500 million baht for his tax liability. The ASC concluded that Mr Bannapot was liable to pay tax for the transfer of Shin Corp shares worth 738 million baht, but he claimed they were a wedding gift from his step-sister.

Continued here:

http://www.bangkokpost.com/News/16Jan2007_news01.php

[johnnyk]

Thaksin's son and lawyer have the same tailor?

Yes. He's a smart man, sold the same suit twice.

You'd think the boy billionaire could do better than an off-the-rack job from Wal-Mart.

I wonder if he's having pre-marital sex with his escort.

[Jai Dee]

Those involved in Shin Corp share transfer will submit letters clarifying themselves to AEC today

The lawyer of two alleged accomplices of the Shinawatra Computer & Communications case will submit letters clarifying themselves to the Assets Examination (AEC) today.

The two alleged accomplices, Wanchai Honghern (วันชัย หงษ์เหิน) and Pranee Wetchaphreukphitak (ปราณี เวชพฤกษ์พิทักษ์), are charged with tax evasion in the share transfer deal of the Shinawatra Computer & Communications. Today (January, 19) is the due date that the two persons are scheduled to clarify themselves to AEC.

Nopadol Pattama (นพดล ปัทมะ), the legal advisor of the ex-prime minister Thaksin Shinawatra and his family, revealed that the letters deny charges made against the two persons by AEC. The other four alleged people include Banpot Damapong (บรรณพจน์ ดามาพงศ์), Khunying Pojamarn Shinawatra (พจมาน ชินวัตร), Duangta Wongpakdee (ดวงตา วงศ์ภักดี), and Kanchana Honghern (กาญจนาภา หงส์เหิน). None of them has sent letters to clarify themselves to AEC.

According to Mr Nopadol, all of the alleged will testify only in courts.

Meanwhile, Sak Khosangruang (สัก กอแสงเรือง), the president of the AEC subcommittee scrutinizing the case, said if the alleged do not clarify themselves on due date, they will be considered as giving up their rights to do so. The subcommittee will then forward its conclusions of the case to prosecutors.

Source: Thai National News Bureau Public Relations Department - 19 January 2007

[Jai Dee]

Lawyer to Shinawatra family submits documents clarifying facts against the accusation of Shin Corp's deal

Mr. Theerapat Srichaiya (ธีรภัทร ศรีไชยา), the lawyer of Shinawatra family, has submitted documents to clarify facts against the accusation of Shin Corp’s deal.

Following the corruption accusation made against Shin Corp’s share distribution, Mr. Theerapat is confident that he can exonerate those involved in the case. He said that more witnesses will give testimony in the court.

As for Ms. Pinthongta Shinawatra (พิณทองทา ชินวัตร), the ex-PM’s daughter, Mr. Theerapat said that she will give testimony to the sub-committee inspecting the share deal between Shin Corp and Ample Rich Inc on Jan 24th, adding that General Chaiyasit Shinawatra (ชัยสิทธิ์ ชินวัตร ), former Commander-in-Chief of the Army, will accompany her.

Source: Thai National News Bureau Public Relations Department - 19 January 2007

[Tony Clifton]

documents clarifying facts

Edited January 19, 2007 by Tony Clifton

[yamaharr1]

I wasn't sure where to post this as it is from November but here seemed to be the most fitting place, with everything that is happening to the last Government and the family.

I found it so funny they are hitting the Taksin family every which way because they said about the Shin Corp’s deal, but the new government has been making sure they are getting their hands on as much money as they can while they are in office and they are taking positions on company boards to make sure they keep getting their hands on the cash. I guess they used the Shin Corp’s deal as a reason to get Taksin out so they could get their cash.

Thai coup chiefs in extra pay row

Thailand's coup leaders are under fire for allegedly accepting extra payments that effectively double their salaries.

Thai newspapers report that the new cabinet decided to give the leaders of September's coup additional pay on top of their monthly military salaries.

Prime Minister Surayud Chulanont is reported to have defended the move, saying the extra payments were worth it to rid the country of corruption.

Graft was a key reason given for the ousting of PM Thaksin Shinawatra.

Payments for the seven-member Council for National Security (CNS), as the coup leaders call themselves, were agreed by the cabinet on Tuesday.

Members of other bodies, including the National Legislative Assembly, were also awarded salaries.

'Early Christmas present'

Coup leader Gen Sonthi Boonyaratglin will get a salary of nearly 120,000 baht ($3,000) per month for chairing the CNS, a similar amount to his monthly military salary, according to the Bangkok Post newspaper.

His deputy, Air Chief Marshal Chalit Phukphasuk, will receive nearly 114,000 baht while the other five CNS members will receive 110,000 baht, in addition to their military salaries.

The coup leaders have also been given positions on the boards of state firms.

The moves drew criticism from Thailand's Nation newspaper, which said it was "egg in the face" for all who had backed the coup and an "early Christmas gift" for those who opposed it.

"What on earth were the coup leaders thinking? I can't figure out any good reason except that they are now so bored with the job already and want to provoke a street protest so as to exit quickly with a good pretext," editor Tulsathit Taptim wrote.

The Bangkok Post quoted Prime Minister Surayud as saying that the extra salaries were worth paying if it meant getting rid of corruption.

Thai coup leader pay raised

[johnnyk]

Obviously you didn't follow the whole thread you refer to.

These salaries are peanuts in relation to the responsibilities.

[sriracha john]

...and while you're looking up that old thread, yamaha

here's a little tidbit to consider about the folks that Thaksin was paying like the highly astute and extremely analytical thinking mind of the illustrious T.A.T. boss.

Her renumeration package was a cool 1/2 million baht per month (or 4 times what the current Prime Minister is paid):

Published on Dec 29, 2006

...former governor Juthamas Siriwan, who had a monthly salary of Bt340,000 and benefits of Bt150,000 to Bt200,000.

The Nation

http://www.thaivisa.com/forum/index.php?sh...=100894&hl=

Edited January 19, 2007 by sriracha john

[sriracha john]

Potjaman hands in her defence

Potjaman Shinawatra, wife of deposed prime minister Thaksin, and her stepbrother Bannapot Damapong yesterday defended themselves in writing against criminal charges of collusion to evade tax in 1997 _ the first defence by the Shinawatra family against accusations made by the Assets Scrutiny Committee (ASC). The statements were submitted to the ASC by Khunying Potjaman's lawyer Teerapat Srichaiya, who said she would present witnesses to testify when the case goes to court. ''We're confident we can fight the charges. Khunying Potjaman isn't worried about it,'' the lawyer said.

Continued here:

http://www.bangkokpost.com/News/20Jan2007_news18.php

[Old Man River]

...former governor Juthamas Siriwan, who had a monthly salary of Bt340,000 and benefits of Bt150,000 to Bt200,000.

I know this seems like a lot, but I run across locals making similar amounts several times per week. Ten years ago it would have been exhorbitant, but these days it is quite commonplace for local execs.

Yes, we are in the wrong business.

[sriracha john]

...former governor Juthamas Siriwan, who had a monthly salary of Bt340,000 and benefits of Bt150,000 to Bt200,000.

I know this seems like a lot, but I run across locals making similar amounts several times per week. Ten years ago it would have been exhorbitant, but these days it is quite commonplace for local execs.

Yes, we are in the wrong business.

Which really makes the Generals' cited salaries above seem really paltry in comparison (with apologies for mistakenly stating the Prime Minister's salary in my post above).

Certainly, with her pitiful job perfomance, Juthamas' salary was exhorbitant. I believe I read her replacement gets about half that amount.

[Old Man River]

Which really makes the Generals' cited salaries above seem really paltry in comparison (with apologies for mistakenly stating the Prime Minister's salary in my post above).

Absolutely correct, although it is possible that they are earning from other sources within the military, which wouldn't be unappropriate.

[sriracha john]

No live coverage of Pinthongta testimony

The Assets Examination Committee (AEC) has barred the use of outside-broadcast equipment for live television coverage of a visit by ousted prime minister Thaksin Shinawatra's daughter to testify before the panel today.

Pinthongta is to testify before an AEC sub-committee investigating alleged tax evasion associated with the sale of Shin Corp to Singapore's Temasek Holdings last year.

The hearing is being held at the Office of the Auditor-General and the committee has prohibited outside-broadcast equipment from its grounds.

Live TV coverage of Panthongtae Shinawatra's visit to the panel on January 10 showed rowdy crowd scenes as supporters of the former prime minister showed up to cheer his son.

AEC spokesman Sak Korsaengruang said the Auditor-General's office was a government building and it was inappropriate to allow live broadcasts from it.

The spokesman said the office would ask police and soldiers to step up security in anticipation that Thaksin's supporters would come to provide moral support for his daughter as well.

He pleaded for the supporters to stay away.

"They shouldn't come here because their presence could cause turmoil. The AEC has not asked Pinthongta here to be punished but to provide information to an official investigation," he said.

- The Nation

---------------------------------------------------------

awww... sounds like no Thai carpideiras for the sexy lady?

[Tony Clifton]

I have a scoop for you all about her testimony!

"No. I don't know. I just signed papers, ask mum's secretary"

[slimdog]

Tax reprieve likely for Pinthongta

Pinthongta Shinawatra, a daughter of deposed prime minister Thaksin, might not owe the expected Bt2.8 billion in personal income tax on her sale of Shin Corp shares because she was in the country less than 180 days last year, a source said yesterday.

The Assets Exami-nation Committee source also said Pin-thongta would not have to answer many questions when she appears today before the AEC panel probing alleged tax evasion in the Shin deal, as Shin Corp CEO Boonklee Plangsiri is believed to hold the critical information on the share sale.

source: http://www.nationmultimedia.com/2007/01/24...cs_30024943.php

[Jai Dee]

AEC says the procurement of land in Ratchadapisek by Khunying Potjaman is illegal regardless of selling price

The Assets Examination Committee chairman, Mr. Nam Yimyaem, has reiterated that the procurement of land in Ratchadapisek by Khunying Potjaman Shinawatra, the wife of deposed prime minister Thaksin, is still considered illegitimate regardless of the selling price.

The Financial Sector Restructuring Authority commented that the purchase of land in Ratchadapisek by Khunying Potjaman did not cause any damage to the state since the selling price was higher than the standard price. However, Mr. Nam responded that the selling price is not the main point since the transaction has already violated the regulation of the National Counter Corruption Commission (NCCC). According to the regulation, the Prime Minister and spouse are prohibited from making deals with the state, and Khunying Potjaman had made a deal with the state during the procurement.

The AEC subcommittee is waiting for the asked for the Financial Sector Restructuring Authority to file a complaint against Khunying Potjaman’s land procurement case.

Source: Thai National News Bureau Public Relations Department - 24 January 2007

[Jai Dee]

Second child of deposed PM testifies with AEC

Pinthongta Shinawatra, daughter of ousted prime minister, testified Monday with Assets Examination Committee sub-committee (AEC) over controversial sales of Shin Corp shares to Singapore's Temasek Holdings.

She arrived with her brother, Panthongtae, and younger sister, Praethongtarn, at AEC office at about 10.50am as she is scheduled to testify alone at 11am.

She is welcomed at the entrance by Khunying Jaruvan Maintaka, an AEC member amidst tight security as Shinawatra children were greeted by dozens of media.

The AEC sub-committee is investigating the sale last January of shares worth Bt73 billion in telecoms giant Shin Corp to the Singaporean government's investment arm. The shares were held by Ample Rich Investments, a paper company registered in the British Virgin Islands that was owned by Panthongtae and his sister Pinthongta.

Her brother, Panthongtae and her mother's personal secretary, Kanjanapa Honghern, had already testified with the AEC sub committee. Panthongtae claimed that Kanjanapa took care of the sale of his Shin Corp shares to Singapore's Temasek Holdings and he just signed the paperwork.

"We did everything right," he told reporters at that time.

Shinawatra children were accompanied by their bodyguards, were greeted by more than 100 supporters who offered them flowers and words of encouragement.

They were dogged by scores of reporters who were barred by barricades at the entrance. They did not answer questions from the reporters.

Source: The Nation - 24 January 2007

[Jai Dee]

Pinthongta Shinawatra (yellow shirt) smiles as she arrived at Assets Examination Committee Wednesday to testify on sales of Shin Corp shares to Singapore's Temasek Holdings. Accompanying her was her brother, Panthongtae and she was welcomed by Khunying Jaruvan Maintaka, an AEC member (red suit).

Source: The Nation - 24 January 2007

[Old Man River]

I can't remember which paper it was in (BP or Nation), but the front page of that newspaper's business section yesterday had the best article I have read on the SHIN sale, in that it asks all the questions that the CNS should be asking. Not surprisingly, it was written by Korn Chatikavanij, senior member of the Democratic party and an expert on equity related transactions. Korn is specifically harsh on the SEC and its non-willingness to provide answers to questions it should already have answers for.

If you get a chance, read that article.

[hammered]

I can't remember which paper it was in (BP or Nation), but the front page of that newspaper's business section yesterday had the best article I have read on the SHIN sale, in that it asks all the questions that the CNS should be asking. Not surprisingly, it was written by Korn Chatikavanij, senior member of the Democratic party and an expert on equity related transactions. Korn is specifically harsh on the SEC and its non-willingness to provide answers to questions it should already have answers for.

If you get a chance, read that article.

Yes a thought provoking article in the Nation:

Link: http://www.nationmultimedia.com/2007/01/23...ss_30024862.php