BANGKOK – Thailand’s Supreme Court has overturned previous rulings in a landmark tax case, ordering former Prime Minister Thaksin Shinawatra to pay 17.6 billion baht in capital gains tax related to the 2006 transfer of Shin Corporation shares to his children. The decision reverses the earlier judgment of the Court of Appeal for Specialised Cases, which had exempted the controversial former leader from the massive tax obligation.

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The court determined that the Revenue Department had acted lawfully in assessing Thaksin’s personal tax liability for the share transfer to his son Panthongtae and daughter Pinthongtha. The Supreme Court found that Thaksin had intentionally concealed his controlling stake in Shin Corp by transferring shares to his children before entering politics, as political office holders are prohibited from holding shares in private companies.

Finance Permanent Secretary Lavaron Sangsnit said today that the Revenue Department, the Office of Attorney General and the Legal Execution Department will be involved in the collection imprisoned former prime minister Thaksin Shinawatra’s 17.6 billion baht in unpaid personal… pic.twitter.com/MaBJ84gqk1

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In its ruling, the court characterized Thaksin’s conduct as unethical and contrary to the spirit of tax law. The former prime minister, who is currently serving a prison sentence on separate charges, had previously sued the Revenue Department and Appeals Board members, challenging the legality of the tax assessment.

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While lower courts had ruled in his favor, the Supreme Court’s decision now requires payment of the full 17.6 billion baht tax bill to the Thai government.

-Thailand News (TN)