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Taxman to seize Thaksin children's assets
The Revenue Department is preparing to inform the Bank of Thailand, related commercial banks and the Land Department through an open-letter of its plans to seize assets belonging to Panthongtae and Pinthongta Shinawatra, the children of ousted premier Thaksin Shinawatra.
Sanit Rangnoi, director-general of the Revenue Department, said full co-operation will be needed to ensure that their accounts and land assets are clear of legal bindings before they are seized. “Authorities have already begun the process of investigating their assets. Both had been given until today to cough up tax money from the sale of Shin Corp shares last year," said Mr Sanit. They had used assets that were ordered frozen by the Assets Scrutiny Committee as collateral to file a tax appeal. By Rajesh Kumar, Section Finance & Taxes Posted on Thu Nov 15, 2007 at 06:43:56 PM EST
Last year, Mr Thaksin sparked an outrage after deciding to sell a stake in Shin Corp, which controls Thailand’s biggest mobile-phone operator, in a tax-free deal worth 73 billion baht.
The deal fueled street protests in Bangkok, forcing an early election and eventually led to Mr Thaksin's resignation. http://www.bangkokpost.com/topstories/topstories.php?id=123624
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