PEOPLE’S Party MP and deputy leader Wirote Lakhanaadisorn said he will be going to the Revenue Department on Friday (March 28) to ask for details on the use of promissory notes in transferring shares after this issue was raised during the marathon censure debate against Prime Minister Paetongtarn Shinawatra, Thai Rath newspaper said this evening (March 26).
During the debate Wiroj charged that the prime minister had taken legal loopholes and cover-ups to evade 218 million baht in personal income tax for some 4.4 billion baht in value of corporate shares transferred from her Shinawatra family members and close relatives to herself.
Nevertheless, Paetongtarn, who was officially reported to possess some 13 billion baht in assets, bluntly denied tax evasion allegations, saying all wealth of the Shinawatra family members and her own had been legally, stringently examined.
“No purchases of corporate shares have been literally made in cash for which promissory notes had been handed out between family members and me, thus warranting tax payments,”
Wiroj said he wanted the Revenue Department to clarify either by issuing an announcement or a written ruling on the use of promissory notes to purchase shares or other assets, stating what would be considered avoiding taxes.
In particular if a business owner wants to transfer shares to their children, parents or spouse, or if members of the general public likewise want to transfer their land to family members, if the recipient issues promissory notes for receiving these assets would this be considered dodging taxes in all instances.
He also wants to know what criteria the department uses to determine disguising legal transactions to avoid paying taxes.
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Top and Front Page People’s MP Wirote Lakhanaadisorn. Photos: Thai Rath
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