RD to send back tax notice to Thaksin
Deputy premier Wissanu Krea-ngam said Wednesday the Revenue Department will send former premier Thaksin Shinawatra a notice on back taxes on the 2006 sale of Shin Corp shares to Temasek Holding of Singapore before the case's legal deadline on March 31.
The former premier has the right to submit an appeal on this back tax case within 30 days, according to Wissanu, who said the case is separate from an earlier court order in which Bt46 billion of the proceeds from selling Shin Corp shares were confiscated.
According to an earlier verdict of the Supreme Court's criminal division for political office holders, the Shin Corp shares belonged to Thaksin but the ex-premier used his son and daughter as nominees to hold the shares which were later sold at Bt49 per share against the cost of Bt1 per share to Temasek so there is still an income tax liability owed by Thaksin.
However, Noppadol Pattama, an aide of Thaksin, said sales of the shares were done in the Stock Exchange of Thailand so the proceeds are exempt from income taxes.
