"Old and Poor" Row: Exposing Thaksin's Tax Advisor's Billion-Baht Deal

MGR Online•General•233d ago

Reader Briefing

Controversy erupts over Thaksin's former legal advisor's alleged involvement in a multi-billion baht tax evasion scheme, linked to his son's insensitive political remarks.

•Dew Veerawat, son of Dr. Suwan Valaiasei, a former legal advisor to Thaksin Shinawatra, made controversial political remarks.
•Netizens have resurfaced allegations against Dr. Suwan regarding a multi-billion baht tax evasion scheme related to the Shin Corp sale.
•The allegations suggest Dr. Suwan advised on how to avoid taxes on the 73 billion baht Shin Corp sale to Temasek.
•Critics question if Dew Veerawat's wealth is built on his father's alleged corrupt practices rather than merit.

Overview

•Dew Veerawat, son of Dr. Suwan Valaiasei, a former legal advisor to Thaksin Shinawatra, made controversial political comments. This has led to renewed scrutiny of his father's past dealings.
•Dr. Suwan Valaiasei, born July 13, 1945, passed away on March 29. He was a key figure in the PRAC Party and a legal advisor to Thaksin Shinawatra.
•Dr. Suwan Valaiasei was known for his expertise in finance and tax law, serving as a legal advisor to numerous companies and as a consultant to Prime Minister Thaksin Shinawatra's government.
•On January 20, 2006, a regulation was enacted to allow foreign ownership of telecommunication companies up to 49% from 25%, facilitating the Shin Corp sale.
•On January 23, 2006, Thaksin Shinawatra's family sold approximately 49% of Shin Corp shares to Singapore's Temasek Holdings for 73 billion baht.
•The 73 billion baht profit from the Shin Corp sale was exempted from income tax for individuals selling shares through the stock market.
•Critics allege Dr. Suwan advised Thaksin Shinawatra on how to evade taxes on the Shin Corp sale, thus building his wealth and potentially his son's.
•Netizens are questioning if Dew Veerawat's wealth is a result of his father's work in facilitating tax evasion for associates, rather than his own merit or honest labor.

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Key Quotes

Netizen

"Which Ph.D. or rich father advised Thaksin on national tax evasion?"

ทักษิณได้ ดร.คนไหน พ่อคนรวยคนไหน ช่วยแนะนำโกงภาษีชาติ?

Netizen

"Some are rich due to hard work, but some are rich because fathers laid foundations of corruption using illicit gains."

บางคนรวยเพราะว่าขยันขันแข็งด้วยทำงานสุจริต ... แต่บางคนรวยมาได้เพราะว่าพ่อปูพื้นฐานด้านการโกงมาให้พ่อเอาเงินที่ได้จากการช่วยคนโกงมาเป็นฐานรากในการให้ลูกชายจนรวยถึงปัจจุบัน

Key Entities

Person

Dew Veerawat(ดิว วีรวัฒน์)

Son of Dr. Suwan Valaiasei, involved in a social media controversy for his political remarks and facing scrutiny regarding his father's alleged tax evasion activities.

Dr. Suwan Valaiasei(ดร.สุวรรณ วลัยเสถียร)ℹ️

Former legal advisor to Thaksin Shinawatra and co-founder of the PRAC Party, accused of advising on a multi-billion baht tax evasion scheme for the Shin Corp sale.

Thaksin Shinawatra(ทักษิณ ชินวัตร)ℹ️

Former Prime Minister of Thailand, whose family's sale of Shin Corp shares is central to the alleged tax evasion controversy.

Jeerachart Jongsomchai

Facebook user who posted an exposé on Dr. Suwan Valaiasei's alleged tax evasion activities.

Organization

Shin Corp(ชินคอร์ป)ℹ️

Telecommunications company whose multi-billion baht sale to Temasek Holdings is at the center of tax evasion allegations involving Dr. Suwan Valaiasei.

Temasek(เทมาเส็ก)ℹ️

Singaporean state-owned investment company that acquired a significant stake in Shin Corp, a transaction linked to tax evasion allegations.

PRAC Party(พรรคไทยรักไทย)ℹ️

Political party co-founded by Dr. Suwan Valaiasei, which served as a platform for Thaksin Shinawatra.

Law

Law Exempting Taxes for 'Individuals Selling Shares Through the Stock Market'(กฎหมายยกเว้นภาษีให้สำหรับ "บุคคลธรรมดาที่ขายหุ้นผ่านตลาดหลักทรัพย์")

Legislation allegedly exploited by Dr. Suwan Valaiasei's associates to avoid paying taxes on the sale of Shin Corp shares.

Telecommunications Business Act No. 2(พ.ร.บ. การประกอบกิจการโทรคมนาคม ฉบับที่ 2)

A law enacted in January 2006 that increased foreign ownership limits in telecommunications companies, facilitating the Shin Corp sale to Temasek.