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

[SICHONSTEVE]

"Ample Rich Investment Co, Ltd"

Do you not think that they are "cocking a snook" at the Thai people in boasting about their wealth in such a distasteful way whilst so many of their misquided faithful are struggling to scrape a living, by naming their company as this???? I doubt that any so-called elitists would dare be so derisory or insensitive as it is blatant and brash gloating about their obscene and unwarranted wealth!!!

Edited August 9, 2011 by SICHONSTEVE

[KKK]

11 billion / 70 million = 157 per man, woman, child.....at a guess about what the last election cost for Thaksin to win it.

[glanville63]

Now there's a surprise !!!!!!!!!!!!!!!!!!!!!

[Kaker]

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.... ...quite obviously the education standards at oxford are not as good as they protrayed to be...

Mr. Bean also went to Oxford.

Is that why he crashed his McLaren F1?

[ingvar]

Politics is never black and white. Especially in Thailand.

In the offices and ministries are people who are against Shin family and people who are with. And then there are the usual turncoats who just follow whoever gives them the best advantages from their viewpoint.

Just because the government itself happens to be Democrat, there are a large number of civil servants and other involved in governing and its a continuous struggle lobbying and backstabbing on a daily basis. That is what has been going on behind the curtains leading up to this announcement, I think.

[thaihome]

Ample Rich Investment Co, Ltd,

Can that really be the real name of a company?

and would you invest in it?

You can't invest in it unless your family name is Shinawatra.

For the whole story and notice a currently high profile name that also appears.

The Paper Trail

TH

[mca]

Ample Rich Investment Co, Ltd,

Can that really be the real name of a company?

and would you invest in it?

Well it definitely sounds better than " Not A Pot To Piss In Investment Co, Ltd "

[SICHONSTEVE]

Ample Rich Investment Co, Ltd,

Can that really be the real name of a company?

and would you invest in it?

You can't invest in it unless your family name is Shinawatra.

For the whole story and notice a currently high profile name that also appears.

The Paper Trail

TH

The whole thing stinks...like Kobsak apparently!!!

"Kobsak Sabhavasu of the Democrat smelled fishy with Ample Rich" .

[geriatrickid]

Why do I have the feeling that some of the angriest comments come from those without any liquid assets save for the backwash in their Beer Chang?

[SICHONSTEVE]

Why do I have the feeling that some of the angriest comments come from those without any liquid assets save for the backwash in their Beer Chang?

For a start I prefer Bia Leo. I take it that you think that Thaksin has done nothing wrong!!! That he has short changed the very same people who you obviously purport to care for of many billions of baht clearly escapes you. Just think how many new hospitals or schools that illegaly obtained money could have built for the poor people in the North/North East of the country. You should be ashamed of your allegiance to Thaksin and his cohorts (includes Yingluck) but you are probably that fixated by all things Thaksin that you cannot appreciate all this.

You can jest as much as you want but when the country falls apart under Pheu Thai's inept leadership let's see who's crying into their beer then!! be it Chang, Leo, Heinekin or Singha

[exbelg]

so nice to her aunty as prime minister to evade my god 11 billion baht... only in thailand?

if I were them, i would ask for INTERESTS to ... at let's say 10% per annum ?

11 billion @ 10% per annum x 5 years

that would be an extra of 5.5 billion in intrests ?

Edited August 9, 2011 by exbelg

[webfact]

UPDATE:

Revenue Dept Defends Tax Return for Thaksin's Children

The deputy director-general of the Revenue Department has defended the agency's decision to return a 12-billion baht tax to the two children of former Prime Minister Thaksin Shinawatra, saying they were not the true owners of Shin Corp shares.

Deputy Director-General and Acting Spokesperson of the Revenue Department, Jitramanee Suwanpul defended the agency's decision not to pursue the collection of 12 billion baht worth of income tax from the two children of self-exiled former Prime Minister Thaksin Shinawatra, Panthongtae and Pinthongta.

She cited the Central Tax Court's judgement, saying the tax assessment levied against Thaksin's children is regarded as invalid, because the two were not the true owners of the shares of Shin Corporation.

The Supreme Court's Criminal Division for Holders of Political Positions ruled that the shares were in fact owned by the ex-premier and his wife.

Thaksin's children then made an appeal with the Central Tax Court seeking a tax return and the release of frozen assets, which the court has been deliberating since June.

Director-General of the Revenue Department, Satit Rangkasari, dismissed the change of government and political influence as reasons for his agency's decision to return the tax to Panthongtae and Pinthongta, while insisting that his agency considers tax issues according to regulations and the law.

-- Tan Network 2011-08-09

[ginjag]

UPDATE:

Revenue Dept Defends Tax Return for Thaksin's Children

The deputy director-general of the Revenue Department has defended the agency's decision to return a 12-billion baht tax to the two children of former Prime Minister Thaksin Shinawatra, saying they were not the true owners of Shin Corp shares.

Deputy Director-General and Acting Spokesperson of the Revenue Department, Jitramanee Suwanpul defended the agency's decision not to pursue the collection of 12 billion baht worth of income tax from the two children of self-exiled former Prime Minister Thaksin Shinawatra, Panthongtae and Pinthongta.

She cited the Central Tax Court's judgement, saying the tax assessment levied against Thaksin's children is regarded as invalid, because the two were not the true owners of the shares of Shin Corporation.

The Supreme Court's Criminal Division for Holders of Political Positions ruled that the shares were in fact owned by the ex-premier and his wife.

Thaksin's children then made an appeal with the Central Tax Court seeking a tax return and the release of frozen assets, which the court has been deliberating since June.

Director-General of the Revenue Department, Satit Rangkasari, dismissed the change of government and political influence as reasons for his agency's decision to return the tax to Panthongtae and Pinthongta, while insisting that his agency considers tax issues according to regulations and the law.

-- Tan Network 2011-08-09

Here is the quote from the decision maker................

QUOTE

She cited the Central Tax Court's judgement, saying the tax assessment levied against Thaksin's children is regarded as invalid, because the two were not the true owners of the shares of Shin Corporation.

In court was there any perjury or any deceit or any untruths told, this is against the law isn't it ?????

How in hell can they be given the money back. Who transferred the names over to avoid tax,???? who then said they owned' BITS' (( SHE cited))--who is SHE ?/ surely a high court should intervene here.

[OzMick]

so nice to her aunty as prime minister to evade my god 11 billion baht... only in thailand?

if I were them, i would ask for INTERESTS to ... at let's say 10% per annum ?

11 billion @ 10% per annum x 5 years

that would be an extra of 5.5 billion in intrests ?

You forgot to compound. Your investment @ 10% doubles in a little over 7 years. The interest on 11 billion @ 10% over 5 years would be 6.7 billion.

"Compound interest is the greatest force in the world." Einstein new a thing or two about math.

[473geo]

If the tax was taken from the children the finance ministry is acknowledging they held ownership, this acceptance could well have released Thaksin from more serious charges later. The Thaksin haters should actually be welcoming this announcement..........

[hammered]

If the tax was taken from the children the finance ministry is acknowledging they held ownership, this acceptance could well have released Thaksin from more serious charges later. The Thaksin haters should actually be welcoming this announcement..........

I think a lot including certain media organizations have missed that point

[Thai at Heart]

If the tax was taken from the children the finance ministry is acknowledging they held ownership, this acceptance could well have released Thaksin from more serious charges later. The Thaksin haters should actually be welcoming this announcement..........

I think a lot including certain media organizations have missed that point

Well exactly. But, of course, now we get into the realms of nominee shareholdings and thus Thaksin appears to have been the defacto owner. I don't suspect anyone sitting in parliament wants that to go on the books to cover all shareholdings by nominees associated to MPs. Fortunately precedent law doesn't hold in Thailand, or basically 90% of the MP's would be covered by such a ruling.

[pastitche]

its not about the money, its about face

in this instance the poor thais have their face rubbed in it.

Hell it's 11 billion - the number of TVF members who are moving their money out and going elsewhere will be taking more than that out of the economy

Perhaps you'd like to share your calculations re TVF members moving out will take more then 11 Billion Baht out of Thailand. Further do you have any real data that indicates large numbers are actually moving out?

I wonder if you have an incorrect /overinflated picture of how much foreigners (living here) actually contribute to the Thai economy.

Absolutely no factual basis for what I considered to be an amusing, facetious remark........sense of humour bypass has worked then?

[Buchholz]

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

Amazing Thailand....

Thaksin, ver. 4.0 is same ol' same ol' to Thaksin, ver. 1.0

[dude007]

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

Its Xmass again for Shinawatras..

Shinawatras are all alike... This is only an apetizer to what really will come. There goes the door wide open for another string of Shinawatra-corruption, stealing and pocketting... Thanks Clone of Taksin for this helping hand. My regards to your brother: he is full of good ideas to help you. :bah:

Red shirts, now it's your turn to save the country from this plague. After all you've chosen for it; now clean the mess yourself!

[gemini81]

so those confused have it straight: the money was never in the children's names as claimed by Thaksin. The new news is whether of not they'll tax Thaksin or not as it was in his name the whole time, lying weasel.. The english newspapers tell very little, and far less than the thai newspapers.

[tlansford]

Why do I have the feeling that some of the angriest comments come from those without any liquid assets save for the backwash in their Beer Chang?

Cheers ! You could have hit a nerve there...

A lot of TVF gyrations for nothing. (1) who really cares (2) the tax is still due, the decision just says the owner of the shares needs to be the one to pay. (3) we all have more important things to worry about, ... as you pointed out so smoothly, our own finances.

[SICHONSTEVE]

Can I urge all supporters of Thaksin to re-look at your reasons for defending him. I know that you've supported him in the belief that he was good for the poor people of Thailand but surely you must realise that you've been hood-winked big time, along with the Thai people who voted young sis into power by this lieing, cheating, embezzling, perjuring and selfish wealth crazy scoundrel of the highest order. Example: if you were excited about your favourite football team taking on a high profile manager who then went on to get your team relegated after having been in the top flight for 60 years would you still be a fervent supporter of him????

Blind admiration of something or someone who has let so many people down (not that they realise this) is not particularly clever. A number of his policies might have been popular at the time simply because they thought that he was trying to help their plight but how can a super rich billionaire tycoon care for the poor. He is no Robin Hood (who did help the poor) as he would go beserk if someone gave some of his money to the deserving - unless there was something in it for himself and he could enhance his riches even more!!!

[tragickingdom]

The Nation should be ashamed. They now even think that their own readers are morons. As if a case that is pursued since 2006 just comes to a conclusion on the day a new PM is installed. The facts are simple. It was a decision taken under Abhisit and his boss Suthep. They dared not to tell their supporters before the election. So they had a few ideas, that do represent the IQ of Suthep.

1. Idea one: Leave an army plane given to the prince in Germany and let Yingluck solve it

The plan fall apart when someone got a visa for Germany and the EU and solved the problem

2. Ideo two: Make it appear that Yingluck gave her family a tax break, even though the dossier was finished a year ago and was under investigation since 2006

There might be a few dumb expats in Patpong who migh believe it, but even Sonthi knows Abhisit is incompetent

[SICHONSTEVE]

Why do I have the feeling that some of the angriest comments come from those without any liquid assets save for the backwash in their Beer Chang?

Cheers ! You could have hit a nerve there...

A lot of TVF gyrations for nothing. (1) who really cares (2) the tax is still due, the decision just says the owner of the shares needs to be the one to pay. (3) we all have more important things to worry about, ... as you pointed out so smoothly, our own finances.

Have you never heard of the expression "blind fool"???

[scorecard]

so those confused have it straight: the money was never in the children's names as claimed by Thaksin. The new news is whether of not they'll tax Thaksin or not as it was in his name the whole time, lying weasel.. The english newspapers tell very little, and far less than the thai newspapers.

And the paymaster wants the time machine to return everything to the status quo before the 2006 coup.

And just to show how genuine he is perhaps he'd like to revisit the trial where he was found not guilty of hiding his shares etc., drivers name, maids name, wife's secretary name...

I always laugh when I recall the verdict, he got off because one judge just couldn't bring himself to vote against the paymaster because he had just won (read bought) a massive election victory. Never mind the facts.

Thaksins attempts to reverse everything might just come back to haunt him.

[OzMick]

If the tax was taken from the children the finance ministry is acknowledging they held ownership, this acceptance could well have released Thaksin from more serious charges later. The Thaksin haters should actually be welcoming this announcement..........

I think a lot including certain media organizations have missed that point

I certainly didn't, asking in an earlier post when the charges for this additional avoided tax would be laid. I also pointed out that claiming ownership should cause members of the Shinawatra clan to be charged with criminal conspiracy and perjury, including the new PM.

Do you agree?

[OzMick]

Why do I have the feeling that some of the angriest comments come from those without any liquid assets save for the backwash in their Beer Chang?

Cheers ! You could have hit a nerve there...

A lot of TVF gyrations for nothing. (1) who really cares (2) the tax is still due, the decision just says the owner of the shares needs to be the one to pay. (3) we all have more important things to worry about, ... as you pointed out so smoothly, our own finances.

Is one of the things we should be worrying about that the new PM was involved in a criminal conspiracy to defraud the people of Thailand, along with other members of her clan, but nobody seems inclined to press charges.

When you answer, please omit the word "mandate", that worked with her brother, unlikely to work a second time.

[hammered]

If the tax was taken from the children the finance ministry is acknowledging they held ownership, this acceptance could well have released Thaksin from more serious charges later. The Thaksin haters should actually be welcoming this announcement..........

I think a lot including certain media organizations have missed that point

I certainly didn't, asking in an earlier post when the charges for this additional avoided tax would be laid. I also pointed out that claiming ownership should cause members of the Shinawatra clan to be charged with criminal conspiracy and perjury, including the new PM.

Do you agree?

There are many many things that never get anywhere near a court. I would agree that all of them would be better off doing so and to be decided on the evidence presented. However, what you or I think are utterly irrelevant as many wont and some have even given themselves an amnesty already

[OzMick]

If the tax was taken from the children the finance ministry is acknowledging they held ownership, this acceptance could well have released Thaksin from more serious charges later. The Thaksin haters should actually be welcoming this announcement..........

I think a lot including certain media organizations have missed that point

I certainly didn't, asking in an earlier post when the charges for this additional avoided tax would be laid. I also pointed out that claiming ownership should cause members of the Shinawatra clan to be charged with criminal conspiracy and perjury, including the new PM.

Do you agree?

There are many many things that never get anywhere near a court. I would agree that all of them would be better off doing so and to be decided on the evidence presented. However, what you or I think are utterly irrelevant as many wont and some have even given themselves an amnesty already

A simple yes would have sufficed, but I agree that warranted charges will be suppressed. The head of DSI said he was looking into perjury charges against Yingluk, but I expect him to be replaced very soon.