Wiroj urges Revenue Dept. to probe PM's PN Deal for tax evasion

Wiroj Lakkhanaadisorn, an MP from the People's Party, visited the Revenue Department on Friday (March 28, 2025) to submit a letter requesting an official ruling on the use of a 4.4 billion-baht promissory note (PN) for the purchase of shares by Prime Minister Paetongtarn Shinawatra. He also called for an investigation into whether the transaction constitutes a concealed legal act aimed at tax evasion or avoidance.

Wiroj stressed the importance of an official, written ruling to clarify whether the transaction was an attempt to disguise the true intent of transferring shares within the family. He raised concerns that the use of a promissory note or other financial instruments could be a way to avoid the 5% gift tax.

“This is a critical issue. Paetongtarn is not just any individual—she is the leader of the country, the head of government, and the chair of the fiscal and financial policy committee by position,” Wiroj stated, emphasizing the public interest in ensuring proper financial and fiscal oversight.

In response to the explanation by Pinsai Surasawadee, Director-General of the Revenue Department, who stated the transaction was permissible, Wiroj argued that the response seemed to assume the transaction was a genuine sale without addressing whether it was, in fact, a concealed legal act. He highlighted that Pinsai’s clarification focused on the payment under the promissory note, stating that any profit from the sale would be subject to personal income tax. However, Wiroj questioned whether this was truly a sale or merely a disguised transaction meant to conceal the intent of transferring shares as gifts. He pointed out that if the shares were a gift from family members, amounts exceeding 20 million baht would be subject to a 5% gift tax.

Wiroj further stressed that the public’s concern lies in whether such transactions are allowed and whether the Revenue Department would enforce the law consistently across all citizens. He raised the issue of a potential double standard, asking if the department would send tax officials to collect gift taxes in similar situations involving ordinary citizens.

In response, Prime Minister Paetongtarn addressed the matter, saying, “How could taxes be evaded when no money has been paid yet? Tax is only calculated once payment is made, and it must be based on profit. This is clear, and even scholars have spoken out about it.”