Thaksin appeals ฿17.6bn tax assessment

Thaksin appeals ฿17.6bn tax assessment

Thaksin Shinawatra. (Bangkok Post file photo)
Thaksin Shinawatra. (Bangkok Post file photo)

Former prime minister Thaksin Shinawatra has filed an appeal with the Revenue Department against its demand he pay 17.6 billion baht in tax from the sale of Shin Corp shares 11 years ago.

The move was confirmed by Revenue Department director-general PrasongPoontaneat on Friday.

The department has up to two years to consider the appeal, but it is possible the procedure may be concluded within a year or even six months, he said. 

Revenue Department officials post the tax notice on March 28. (Bangkok Post file photo)

Thaksin’s legal representative  submitted the appeal on Tuesday, within the deadline of 30 days after the tax assessment was posted on the front gate of the house of Thaksin's former wife, Khunying Potjaman na Pombejra, on March 28.

The house is still officially listed as Thaksin's address in the database of the Interior Ministry, even though the couple divorced in late 2008 after 32 years of marriage.

The department's Por Ngor Dor 12 form demanded Thaksin pay 17.6 billion baht in back taxes, fines and additional fees in compliance with a tax law requiring a re-assessment be wrapped up within 10 years.

The department and Central Tax Court previously did not pursue Thaksin's children, Panthongtae and Pinthongta, for the taxes.

They stand accused of acting as proxies for their father by holding Shin Corp shares they had acquired from Ample Rich at a hugely discounted price and reselling them to Singapore's Temasek through the Stock Exchange of Thailand for a huge profit, subject to tax, back in January 2006. Ample Rich was a British Virgin Islands-registered company founded by Thaksin. 

The department will form a panel to consider the appeal filed by Thaksin. Should the panel throw it out,  Thaksin can take the case to the Central Tax Court.

The cabinet on March 14 resolved to issue Thaksin with the tax notification following talks with representatives of the the Finance Ministry, Office of the Attorney-General, and National Anti-Corruption Commission.

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