Thai ex-PM Thaksin faces US$540 million bill over Shin Corporation sale to Singapore’s Temasek
The Supreme Court overturned a prior decision, ordering Thaksin pay tax on his Shin Corporation sale to Singapore’s Temasek Holdings in 2006
In 2006, Thaksin was dogged by corruption allegations and mired in controversy over the tax-free sale of shares in his company, Shin Corporation.
Later that year he was ousted as prime minister in a coup and then went into exile for more than a decade.
The 76-year-old politician, one of Thailand’s richest people, is currently serving a prison sentence in Bangkok for corruption during his time in office.
On Monday, the Supreme Court overruled an appeal court decision in the tax case, “forcing Thaksin to follow the order by the Revenue Department to pay tax”, court spokesman Suriyan Hongvilai said.
Suriyan did not provide the specific sum to be paid nor the court’s reasoning for its ruling.
Several Thai media outlets reported that the court ordered Thaksin to pay 17.6 billion baht (US$540 million) in tax liabilities and fines.