Korn says debate may help state receive significantly more tax revenue

Korn Chatikavanij, a former finance minister and politician, stated that the censure debate against Prime Minister Paetongtarn Shinawatra could result in the Revenue Department collecting hundreds of millions of baht more in tax.

Korn was referring to a debate led by People’s Party MP Wiroj Lakkhanaadisorn, who on Monday accused Paetongtarn of evading a gift tax of 218.7 million baht on shares worth 4.4 billion baht that she received from five family members. Wiroj alleged that Paetongtarn had forged share purchases to avoid paying the gift tax by issuing promissory notes without due dates or interest rates.

On Monday night, Korn posted on his Facebook page that proving whether Paetongtarn had deliberately avoided paying the gift tax would be difficult.

He added that only the Revenue Department and the National Anti-Corruption Commission had the authority to investigate the alleged tax avoidance.

However, Korn noted that such transactions might be a common business practice within families.

He also pointed out that Paetongtarn had responded to Wiroj by stating that she intended to settle the debt with her five family members—her mother, brother, sister, uncle, and aunt-in-law—next year, and that it would be the responsibility of the share sellers to pay income tax.

Korn concluded that Paetongtarn’s response indicated the Revenue Department would ultimately collect hundreds of millions of baht more in tax from the share sales.