PUBLISHED: 29 Mar 2025 at 05:57
The People’s Party (PP) has initiated formal investigations into Prime Minister Paetongtarn Shinawatra regarding her controversial share purchases and land acquisitions in Khao Yai. Following a recent no-confidence motion, PP MPs, led by deputy leader Wiroj Lakkhanaadisorn, submitted a request to the Revenue Department to examine the premier’s use of promissory notes (PNs) related to her share purchases, amid allegations of potential tax evasion.
Mr. Wiroj emphasized the need for a formal ruling by the Revenue Department due to the prime minister’s role in government and financial policy. He raised concerns that the use of PNs might be seen as an attempt to circumvent the 5% gift tax, as no repayment terms or interest rates were outlined.
Pinsai Suraswadi, head of the Revenue Department, clarified that tax would be owed when the PNs convert to cash. Since the PM is expected to make a cash payment in 2026, this would necessitate including the income in the 2026 tax filings, due in 2027.
Mr. Wiroj argued that the department chief has not adequately examined whether the transaction was a legitimate purchase or a means to evade tax obligations by later designating it as a gift. He stated, “While PNs are legitimate financial tools, we must investigate whether this transaction was genuine or a facade to avoid taxes.”
The PP is also requesting a decision from the Revenue Department’s tax arbitration committee to provide clarity on such transactions for public reference.
Additionally, the PP MPs filed a petition with the Department of Land (DoL) to review the issuance of land documents for “Thames Valley Khao Yai,” a luxury hotel owned by the Shinawatra family in Nakhon Ratchasima. The opposition alleges that the hotel is situated in a watershed area where land documents are not permitted.
This area was designated for individuals displaced by the construction of the Lam Takhong Dam in 1970, and the DoL has previously stated that the issuance of land documents complied with regulations.
In response, Ms. Paetongtarn has asserted that all transactions are conducted lawfully, dismissing the allegations from the PP.
