Former Thai PM ordered to pay 17 billion THB in tax

The Revenue Department of Thailand on March 27 ordered former Prime Minister Thaksin Shinawatra to pay 17 billion THB (493.9 million USD) as taxes collected from the sale of Shin Corp shares in 2006.

Monday, March 27, 2017 16:59

Former Thai PM ordered to pay 17 billion THB in tax ảnh 1

Former Thai Prime Minister Thaksin Shinawatra. (Source: Global)

Bangkok (VNA)- The Revenue Department of Thailand on March 27 ordered former Prime MinisterThaksin Shinawatra to pay 17 billion THB (493.9 million USD) as taxes collectedfrom the sale of Shin Corp shares in 2006.

Thaksin reserves theright to appeal the demand within 30 days of receiving the notification. If hisappeal is dismissed, he can take the case to the Central Tax Court.

According to thedepartment, on the sale of 49.6 percent of Shin Corps shares in 2016, Thaksin'sfamily gained a total of 73 billion THB (1.88 billion USD).

Thaksin’s son anddaughter purchased over 329 million Shin Corp shares at a price of one bahteach. They later sold the shares in their name to Temasek of Singapore throughthe Stock Exchange of Thailand for 49.25 baht each, reaping capital gainssubject to tax.

On February, 2010,Thailand’s Supreme Court ordered the seizure of Thaksin's assets on its rulingthat his children were mere proxies holding the shares for him, stating him thetrue instigator.-VNA

VNA

#former Thai PM #Thaksin Shinawatra

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