Revenue Dept should check offshore investments: Vicha
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VICHA Mahakun, former chairman of the National Anti-Corruption Commission, has proposed that the Revenue Department be tasked with screening the tax records of Thai individuals and companies investing overseas after the “Panama Papers” recently exposed wi
In his capacity as chairman of an anti-graft foundation, Vicha said a seminar on the issue would be held on May 4 featuring a lecture by Thirachai Phuvanartnarabhiban, a former finance minister, who will discuss implications of the Panama Papers leak.
According to Vicha, some offshore companies are legitimate, but others are believed to be illegal because they are used for money laundering and tax evasion. So the government should enact a law to require proper reporting on the establishment of offshore companies by Thai investors.
