Thai Supreme Court cuts tax evasion fine for Philip Morris

13 Sept 11:41 Key points summarised by AI

Thailand's Supreme Court significantly reduced Philip Morris Thailand's tax evasion fine from $4 million to approximately $610,000.
The court found the company guilty of under-declaring cigarette import prices from Indonesia in 2002-2003, a decision Philip Morris disputes while asserting its consistent compliance with local and international law.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.