Revenue Dept to reassess Shinawatra’s capital gains tax

[snoop1130]

Revenue Dept to reassess Shinawatra’s capital gains tax

 

 

The Revenue Department will reassess the capital gains tax to be demanded from the Shinawatra family and to notify former prime minister Thaksin Shinawatra of the reassessed tax figures within March 31 when statute of limitations of the tax case is due to expire, Deputy Prime Minister Wisanu Krea-ngarm said Wednesday.

 

Revenue department chief Prasong Poonthanet was summoned to meet Mr Wisanu to discuss the tax case and to report to the latter the department’s handling of the case.

 

The deputy prime minister, however, said once the revenue department formally notified the Shinawatra family or Thaksin about the tax reassessment, the case would enter the normal civil proceedings and Thaksin has the right to appeal against the tax reassessment within 30 days of receiving the notification.

 

He maintained that the government would proceed with the case through normal proceedings.

 

Full Story: http://englishnews.thaipbs.or.th/revenue-dept-reassess-shinawatras-capital-gains-tax/

 

-- © Copyright Thai PBS 2017-3-15

[webfact]

Thaksin faces tax demand on Shin sale
By THE NATION

 

 

Ex-pm has 30 days to appeal against order; Wissanu says govt has duty to collect back taxes

 

BANGKOK: -- THE REVENUE Department would send former premier Thaksin Shinawatra a citation to pay delinquent taxes on the 2006 sale of Shin Corp shares to Temasek Holdings of Singapore before the case’s legal deadline on March 31.

 

The fugitive former premier has the right to submit an appeal against this tax order within 30 days, Deputy Prime Minister Wissanu Krea-ngam said yesterday.

 

 This case is separate from the court order some years ago to seize Bt46 billion of the Bt73-billion proceeds from selling Shin Corp shares, he said.

 

The Supreme Court’s Criminal Division for Political Office Holders had ruled then that the Shin Corp shares belonged to Thaksin but the former premier had used his son and daughter as nominees to hold the shares on his behalf while he held public office. 

 

These shares were later sold at Bt49 apiece against the unit cost of Bt1 to Temasek, so there was still income tax owed by Thaksin on the capital gains.

 

However, Noppadon Pattama, a legal aide of Thaksin, claimed the sale of the shares was transacted through the Stock Exchange of Thailand hence the proceeds were exempt from income tax.

 

Wissanu said once the demand letter is served on Thaksin, the statute of limitations on this civil case would be automatically extended by 10 years. 

 

This case should be judged by the court as setting a precedent since the government has the duty to attempt to collect back taxes even though it is not completely clear if the taxes are collectable, he said. Counter-lawsuits by Thaksin and his family cannot be ruled out but there is no need to issue special measures to protect tax officials, he said. The case is in a “grey” area so the court should have the final say, he said.

 

In 2015, the National Anti-Corruption Commission took legal action against four former senior officials of the Revenue Department for helping Thaksin and his children to avoid the taxes. 

 

Later the Criminal Court sentenced these four officials to three years in jail.

 

Wissanu said the argument that sale of shares in the stock market was exempt from capital gains tax could be raised by the defence in court when the case goes to trial. 

 

However, the Auditor-General’s Office has insisted that this stock sale had incurred a tax liability. 

 

Tax officials have tried to collect about Bt12 billion from Panthongtae and Pinthongta, the son and daughter of Thaksin, but the efforts failed after a tax court ruled in 2010 that the two children do not have to pay taxes since the shares belonged to Thaksin.

 

Noppadon insisted that shares sold on the stock market do not have a tax liability. This regulation has been applied for many years so it could not be interpreted otherwise. 

 

He said the issue in this case was not about the statute of limitations but the legal fact that the sale is not subject to income tax.

 

Prior to 2006, Thaksin had set up Ample Rich Investments to sell 329 million shares of Shin Corp to his two children at a price below the market price. In 2007, the Revenue Department initiated its first attempt to levy income taxes on the share sale. 

 

Source: http://www.nationmultimedia.com/news/national/30309213

 

-- © Copyright The Nation 2017-03-16

[Chang_paarp]

1 hour ago, webfact said:

 

Wissanu said once the demand letter is served on Thaksin, the statute of limitations on this civil case would be automatically extended by 10 years. 

 

The real reason for the sudden action.

[northernboy]

So That means there most likely will be an unexpected delay or inability to serve the notice to Mr.Taksin within the time limits. It has happened for him before.  (Can you say UBC TV) Any odds offered on this case as well? 

[mtls2005]

Ah, The Miracle of Law.

 

What a wonderful thing.

 

Will the PM pen a new song with this title?

 

JUNTA TO COLLECT THAKSIN TAX WITH THIS ONE WEIRD TRICK

 

BANGKOK — The military government said Tuesday it will be able to collect 16 billion baht in taxes from fugitive prime minister Thaksin Shinawatra through a “miracle of law.”

 

A government spokesman said it wouldn’t be necessary to exercise its absolute power under Article 44 to collect on the money sought over a 2006 stock deal, as officials had found an alternative – and creative – legal

solution.

 

“It couldn’t be done,” Sansern Kaewkamnerd quoted Deputy Prime Minister Wissanu Krea-ngam from Tuesday’s cabinet meeting. “but it can be done through the miracle of the law.”

 

http://www.khaosodenglish.com/politics/2017/03/15/govt-finds-legal-miracle-demand-16b-thaksin-tax/

[Prbkk]

Highly selective about which of the ratbags they choose to pursue. The mafia-like families are completely untouchable, it seems.

[Eric Loh]

I will consider this as going through the motion and nothing will come out of it. Just like the temple case, it will dissipate eventually but will appease their supporters that they are doing something. Nothing to see here. Next please. 

[realenglish1]

What a waste of Taxpayers money by the revenue department

 

The moon will turn into cheese first before they are gong to collect taxes from him

 

Move on  get money from the throngs still here in Thailand 

[mtls2005]

Just now, realenglish1 said:

What a waste of Taxpayers money by the revenue department

 

The moon will turn into cheese first before they are gong to collect taxes from him

 

Move on  get money from the throngs still here in Thailand 

This is about Thaksin's children who are still here.

 

They junta seems confident they can "use the law" in a  "secret way" to recover these "taxes".

 

In the end they can use Article 44, and just seize whatever they want.

 

I doubt they'd be crowing about this if they weren't confident. 

[realenglish1]

2 minutes ago, mtls2005 said:

This is about Thaksin's children who are still here.

 

They junta seems confident they can "use the law" in a  "secret way" to recover these "taxes".

 

In the end they can use Article 44, and just seize whatever they want.

 

I doubt they'd be crowing about this if they weren't confident. 

Do you honestly think the Children have any meaningful amount of money in this Country at this time You have your head in the sand 

[mtls2005]

10 minutes ago, realenglish1 said:

Do you honestly think the Children have any meaningful amount of money in this Country at this time You have your head in the sand 

 

I honestly don't know, but suspect anything they currently own could be seized.

 

And then an investigation would be started to track their finances since the original "crime", and any others would be drawn in, then passports would be confiscated, then jail a possibility, then the real goal: get them to leave Thailand.

[realenglish1]

1 minute ago, mtls2005 said:

 

I honestly don't know, but suspect anything they currently own could be seized.

 

And then an investigation would be started to track their finances since the original "crime", and any others would be drawn in, then passports would be confiscated, then jail a possibility, then the real goal: get them to elalve Thailand.

Before the threat of jail is hanging over their heads you can bet they will be out of the country 

[mtls2005]

4 minutes ago, realenglish1 said:

Before the threat of jail is hanging over their heads you can bet they will be out of the country 

Yes, I said as much. This is the real goal, obviously.

[TEFLKrabi]

It's just a way of keeping the case alive. No more, no less.

[Srikcir]

the junta held a special meeting Tuesday during which it discovered the “miracle of law.”

No, it's the miracle of holding absolute power regardless whether a legal cite (ie., Article 44) is made or not. Notice that the junta alone made this "miracle" without support of any court. According to the Interim Constitution, any decisions issued by NCPO Chief Prayut are considered legal and extrajudicial without review.

[GarryP]

Purely selective enforcement by a bunch of clowns under the name of the NCPO. Until we see action taken against tax cheats, corrupt politicians, businessmen, etc. from both sides of the divide, including those currently in power, their families (brothers, nephews, wives) and sycophants, the government cannot be seen to have any integrity whatsoever and is purely self-serving.

 

A number of big businesses here are allowed to get away with clearly monopolistic business practices purely because of links to the powers that be. A really good tax audit of these companies is also called for, but will never happen. And the sad thing about it is that the person that is hurt by all this is the average man or woman on the street.    

[ALLSEEINGEYE]

4 hours ago, Prbkk said:

Highly selective about which of the ratbags they choose to pursue. The mafia-like families are completely untouchable, it seems.

Why is this highly selective? This ratbag is the top untouchable mafia family!!

[elgordo38]

4 hours ago, realenglish1 said:

What a waste of Taxpayers money by the revenue department

 

The moon will turn into cheese first before they are gong to collect taxes from him

 

Move on  get money from the throngs still here in Thailand 

Its a name refresher thing. Translation: keep flogging a dead horse. 

[Baerboxer]

Interesting to see where this one goes.

 

4 ex Revenue Officers jailed for help 2 people avoid taxes. Why haven't any charges been brought against the 2 people who benefited?

 

I don't think the tax people just decided themselves to do this, and not even tell to the 2 beneficiaries. 

[GarryP]

35 minutes ago, ALLSEEINGEYE said:

Why is this highly selective? This ratbag is the top untouchable mafia family!!

Because they are only going after him. There are many other tax dodgers, but nothing is done about them because they are on the side of the fence that is currently viewed the right side. No one is saying he is not a tax dodger.  

[Redline]

Just impose a comprehensive fine of 800 billion for everything the family has done, real or contrived.  How many decades are they bring new and old charges up?  I guess that's were Trump got his constant complaints and accusations about Obama and Hillary, and Bill, and....the boogy men from "other countries."

 

They should focus on leading, which means moving forward and taking responsibility in an honest way.  I know that's a lot to ask but...

[robblok]

5 hours ago, GarryP said:

Because they are only going after him. There are many other tax dodgers, but nothing is done about them because they are on the side of the fence that is currently viewed the right side. No one is saying he is not a tax dodger.  

I agree what your saying.. but should they then just let it go.. the man in the street would be better off if this tax is collected.. then other increases are not needed.

 

I know that its all highly selective but i rather see some of these guys paying then non and letting the man on the street pay it all.

[wakeupplease]

The man on the street pays for it all and always has done, sadly some cannot see that. The Taksin money is peanuts to what is going on in other businesses year after year, some even acting as a laundry service. If you are on the right side of the fence then cheating is ok but get over on the other side all hell brakes loose. but the little man on his 300 aday will always pay more than his share in this corrupt backward thinking den of corruption where idiots and bull>>>> rules

[GarryP]

54 minutes ago, robblok said:

I agree what your saying.. but should they then just let it go.. the man in the street would be better off if this tax is collected.. then other increases are not needed.

 

I know that its all highly selective but i rather see some of these guys paying then non and letting the man on the street pay it all.

No, they should not let it go. If there is a valid law to use and he has broken it, then they should use it. But if they are making up a "miracle" in order to force him to pay, which has no foundation in law, he must be let off. 

 

You must apply the law equally to everyone no matter whether it is Thaksin, Prayuth, Preecha, Pravith, Jathuporn, Suthep, Somchai and Somsri,  ad infinitum. 

 

Laws should not be made up as they go along so they can get this or that person. Otherwise no one is safe. Not you nor me.

[robblok]

Just now, GarryP said:

No, they should not let it go. If there is a valid law to use and he has broken it, then they should use it. But if they are making up a "miracle" in order to force him to pay, which has no foundation in law, he must be let off. 

 

You must apply the law equally to everyone no matter whether it is Thaksin, Prayuth, Preecha, Pravith, Jathuporn, Suthep, Somchai and Somsri,  ad infinitum. 

 

Laws should not be made up as they go along so they can get this or that person. Otherwise no one is safe. Not you nor me.

I agree.. no made up laws. Must be legit. 

 

I also agree that it should be equally done to all.. however i rather see that some of them get caught and have to pay then none. So the not prosecuting of one should not be a get out of jail free card for other Hi So's.

 

I really wish they would go after all of them., Prayut and others included if they break the law. 

[GarryP]

2 minutes ago, robblok said:

I agree.. no made up laws. Must be legit. 

 

I also agree that it should be equally done to all.. however i rather see that some of them get caught and have to pay then none. So the not prosecuting of one should not be a get out of jail free card for other Hi So's.

 

I really wish they would go after all of them., Prayut and others included if they break the law. 

I agree.

[wakeupplease]

12 minutes ago, GarryP said:

No, they should not let it go. If there is a valid law to use and he has broken it, then they should use it. But if they are making up a "miracle" in order to force him to pay, which has no foundation in law, he must be let off. 

 

You must apply the law equally to everyone no matter whether it is Thaksin, Prayuth, Preecha, Pravith, Jathuporn, Suthep, Somchai and Somsri,  ad infinitum. 

 

Laws should not be made up as they go along so they can get this or that person. Otherwise no one is safe. Not you nor me.

I hope you have not just thought of that, because its O so true around here and has been for a few years