Party of the People puts pressure on premier over alleged hidden tax records

The People's Party, heatedly, aggressively aims to probe the dodgy dealings of Prime Minister Paetongtarn Shinawatra. The focal point is her allegedly crooked use of promissory notes (PNs) in a 4.43-billion-baht share acquisition from family members, with the opposition referring to it as a sneaky tax-dodging scheme[1][3][4].

In the face of furious scrutiny, Sittiphol Viboonthanakul, chair of the House committee on economic affairs and a PP list-MP, has raised three significant questions[2]:

Was the transaction within the law?
Was there an underhanded intention or an exploited loophole to escape tax payments in a manner detrimental to state revenue?
Did the appropriate agencies act promptly and transparently within their legal jurisdiction?

These queries were posed ahead of the House committee meeting, which saw representatives from the Revenue Department and the Office of the Auditor General grilled to clear up the murky matter[2].

In the recent no-confidence debate, Paetongtarn dodged the heat but barely survived with an overwhelming majority vote[3]. Yet, the PP is determined to pin her down with legal action[3][5].

Wiroj Lakkhanaadisorn, another PP list-MP, was there to push the Revenue Department to shed light on the case[2][3]. He alleged that Paetongtarn's use of PNs to buy shares from close relatives could be a fabricated, tax-evading ploy that avoids paying gift tax[2][3]. Specifically, he pointed to Sections 17(7) and 13(7) of Thailand’s Revenue Code[2], which allow the director-general to refer ambiguous tax matters to the Tax Ruling Committee for clarification on how the law applies[2].

Section 17(7) enables authorities to reclassify transactions as artificial or tax-avoidant, while Section 13(7) empowers the Revenue Department to seek rulings from the Tax Ruling Committee in ambiguous cases[2]. The crux of the matter revolves around whether the use of PNs in this case constitutes a legitimate financial instrument or an underhanded tax evasion tactic[1][2][4]. The Revenue Department is yet to affirm or dismiss the claims, and no formal tax ruling has been issued[2][4].

The People's Party suspects that Prime Minister Paetongtarn Shinawatra's use of promissory notes (PNs) in a share acquisition may constitute a tax-dodging policy-and-legislation issue in politics.
Sittiphol Viboonthanakul, a PP list-MP, posed questions regarding the legitimacy of Paetongtarn's transaction, her suspected tax evasion intentions, and the transparency of the relevant agencies' actions.
Wiroj Lakkhanaadisorn, another PP list-MP, accused Paetongtarn of potentially using PNs to buy shares from relatives as a fabricated, tax-evading ploy to avoid paying gift tax, specifically highlighting Sections 17(7) and 13(7) of Thailand’s Revenue Code.
The Revenue Department has yet to affirm or dismiss the claims made by Wiroj Lakkhannaadisorn, and no formal tax ruling has been issued in the matter, leaving the crux of the case in question: whether the use of PNs in this case constitutes a legitimate financial instrument or an underhanded tax evasion tactic.