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Thai Finance Ministry To Exempt Thaksin's Children From Bt11 Billion In Taxes

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Fin Min not to collect 11-bn-THB tax from Thaksin’s offspring

BANGKOK, 8 August 2011 (NNT) – The Ministry of Finance has agreed not to collect tax worth totally 11 billion THB from the son and daughter of ex-Prime Minister Thaksin Shinawatra for their capital gains from Shin Corp shares.

Deputy Director General and Acting Spokesperson of the Revenue Department Jitmanee Suwanpul revealed that the Finance Ministry had given a green light to the department’s proposal to exempt Mr Panthongtae and Ms Pinthongta Shinawatra from the payment of capital gains tax worth 5.67 billion THB each, or altogether about 11 billion THB, owed to the state.

The two were found by the Revenue Department in 2006, when they were executives of Ample Rich Investment Co, Ltd, to have procured Shin Corp shares from their father Thaksin through scripless trading in an attempt to evade tax. The shares were later sold to Singaporean firm Temasek Holdings.

Ms Jitmanee reasoned that the Central Tax Court’s ruling on 29 December 2010 clearly stipulated that the true owners of the shares were not Mr Panthongtae and Ms Pinthongta but were instead their parents, Mr Thaksin and Khunying Potjaman Na Pombejra. Therefore, the department has no authority to collect the 11 billion THB from the duo and has also returned them the frozen cash worth 22 million THB as well as properties and other assets of a combined value of 1 billion.

However, the Finance Ministry has not filed any appeals over the case as it agrees with the suggestion of the Supreme Court’s Criminal Division for Holders of Political Positions that there would be no use in doing so. Instead, the Ministry needs to pursue Mr Thaksin and Khunying Potjaman for the unpaid tax before the case reaches its statute of limitations.

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-- NNT 2011-08-08 footer_n.gif

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That didn't take long.

When's Thaksin coming back in person -- next weekend?

Now its again very clear, what was the goal of the elections

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The last paragraph probably leads us to an alpinization kind of outcome

Its Xmass again for Shinawatras..:)

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Thing is 11b baht to "Tax-sin" is nothing, so why broadcast it? Its almost like they want people to know it was a farse

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Timing is very suspicious, clearly the decision was made awhile back but they couldn't make any such announcement under a Democrat govt.

Actually it's the correct course of action, The Surpreme court ruled that the proceeds of the sale of Shin Corp were to be confiscated because they were accrued by breaking the law in which Thaksin as Prime Minister was the real owner. If you confiscate the money from the sale, you can't expect them to pay the VAT, can you now. Of course, if Thaksin succeeds in getting the verdict reversed and his money returned, will the VAT ever be claimed...

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That didn't take long.

When's Thaksin coming back in person -- next weekend?

Now its again very clear, what was the goal of the elections

So, you blame a government that's not yet in office for something the various junta-backed governments failed to do for 5 years?

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Thing is 11b baht to "Tax-sin" is nothing, so why broadcast it? Its almost like they want people to know it was a farse

Civil servants suddenly have new political masters and do a quick 180 on all the controversial stuff compared to how they played it under the old political masters. The anti-Thaksinistas highlight it and go a bit mental. Everyone misses the bit at the bottom after all the courts decided stuff that says must go after the tax from Thaksin and Potjaman, which will be difficult considering the new political masters but open doors for those that dont like Thaksin to make a play or two. Politics. I still wonder about the statute of limitations. It gets mentioned

Edited to add: Lets not forget the past bunch didnt really bother with Alpine allowing it to time out too, and this one wasnt really pursued to heavily. Kinda makes me think of something Crispin wrote around February.

Edited by hammered

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:cheesy: ....WOW and who said the election had nothing to do with Thaksin....BTW when does the statute of limitations run out ?....the day before our man in Dubai returns ?

So thats the frozen assets returned...what is it next week....A full pardon.....They havent even been legally in office for a week yet....:clap2: well done...let get the priorities right....lets sort out "the dear leader".....are they going to get him to pay for all the I-pads promised...22 Billion will buy quite a few

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Ministry Urged to Clarify Tax Return to Thaksin's Children

The Democrat leader urges the Finance Ministry to clarify why the Revenue Department decided not to collect taxes worth over ten billion baht from the children of ousted prime minister Thaksin Shinawatra.

Democrat leader Abhisit Vejjajiva said he did not know the reason why the Revenue Department decided not to file an appeal to pursue the collection of 5.67 billion baht tax each from Panthongtae and Pinthongta Shinawatra, children of deposed prime minister Thaksin Shinawatra.

Abhisit urged the Finance Ministry to clarify the matter as the public has expressed interest in the issue.

Meanwhile, Democrat MP for Surat Thani Suthep Thaugsuban also said he is not surprised by the Revenue Department's plan to lift its freeze of approximately 11 billion baht in bank accounts held by Thaksin's children Panthongthae and Pinthongtha during the court's trial on their alleged tax evasion.

He stated the move plays into Thaksin's effort to reclaim his family's assets, but Thaksin should prove his wealth has been obtained through lawful means first.

Suthep remarked the public will not agree with any government policy prone to benefit only its cronies.

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-- Tan Network 2011-08-08

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Democrat leader Abhisit Vejjajiva said he did not know the reason why the Revenue Department decided not to file an appeal to pursue the collection of 5.67 billion baht tax each from Panthongtae and Pinthongta Shinawatra, children of deposed prime minister Thaksin Shinawatra.

After the education at oxford he received and cant figure out why the revenue department has not persued the collection of monies owed....:blink: ...quite obviously the education standards at oxford are not as good as they protrayed to be...:lol:

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That didn't take long.

When's Thaksin coming back in person -- next weekend?

Now its again very clear, what was the goal of the elections

So, you blame a government that's not yet in office for something the various junta-backed governments failed to do for 5 years?

You seem to be defending a relative-backed government that is handing back cash to 'the family' as its FIRST ORDER OF BUSINESS!!! They haven't even announced the ministerial line up yet. Well done.

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Ministry Urged to Clarify Tax Return to Thaksin's Children

The Democrat leader urges the Finance Ministry to clarify why the Revenue Department decided not to collect taxes worth over ten billion baht from the children of ousted prime minister Thaksin Shinawatra.

Democrat leader Abhisit Vejjajiva said he did not know the reason why the Revenue Department decided not to file an appeal to pursue the collection of 5.67 billion baht tax each from Panthongtae and Pinthongta Shinawatra, children of deposed prime minister Thaksin Shinawatra.

Abhisit urged the Finance Ministry to clarify the matter as the public has expressed interest in the issue.

Meanwhile, Democrat MP for Surat Thani Suthep Thaugsuban also said he is not surprised by the Revenue Department's plan to lift its freeze of approximately 11 billion baht in bank accounts held by Thaksin's children Panthongthae and Pinthongtha during the court's trial on their alleged tax evasion.

He stated the move plays into Thaksin's effort to reclaim his family's assets, but Thaksin should prove his wealth has been obtained through lawful means first.

Suthep remarked the public will not agree with any government policy prone to benefit only its cronies.

tanlogo.jpg

-- Tan Network 2011-08-08

footer_n.gif

Funny how Suthep didnt seem to care about government policies prone to benefit only its own cronies when in power.

Of course this should be clarified but in the earlier article they say it is based on a court decision and that others may be responsible to pay the tax, which seems like an explanation. Although this kind of thing may whip up the anti-Thaksinistas, it isnt really going to turn on anyone else when many many are bored senseless with the whole Thaksin this and Thaksin that nonsense while the price of everything goes up and up and spending power down and down. Today Suttichai had an interesting piece up on how the Dems have to have a major overhaul if they are to become electable. Concentrating on attacking Thaksin may endear them to parts of the establishment and a few of the electorate and it may even create conditions to get a street demo going, but to try and push Thaksin to the cneter of polticla debate while people are hurting in other areas only further shows how out of touch the Dems are and how unlikely they are to overhaul themsleves.

lest hope this remains a small comment calling for explanantion from tham and they further concentrate on matters that are of more import to the people who have elected a government known to be a front for Thaksin inpite of years of him being villified, announced as persona non-grata and sentenced and charged with all kinds of things with the Dems themselves having offered themselves up as the wash away Thaksin pill by voting for us and having been badly beaten by doing so.

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