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A long process to collect of Bt17.6bn unpaid tax from Thaksin

A long process to collect of Bt17.6bn unpaid tax from Thaksin

11 Sept 01:00 Key points summarised by AI
  • Thai authorities, including the Revenue Department, Office of Attorney General, and Legal Execution Department, are commencing the collection of 17.6 billion baht in unpaid personal income tax from former prime minister Thaksin Shinawatra.
  • The Supreme Court's tax division has overturned previous rulings, affirming Thaksin's liability for the tax related to the sale of Shin Corporation equity to Singapore's Temasek Holding Company.
  • The collection process is anticipated to be lengthy, potentially involving the seizure of Thaksin's overseas assets by the Office of the Attorney-General and their subsequent auction by the Legal Execution Department.
  • The tax demand, totaling 17.6 billion baht with fines and interest, stems from an investigation committee's ruling that income from the 2006 Shin Corp share sale by Thaksin's children was subject to taxation, despite complex transfers designed to avoid capital gains tax.
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