The property developer Sansiri Plc yesterday defended its former chief executive Srettha Thavisin, now the Pheu Thai Party's prime ministerial candidate, against allegations made by whistle-blower Chuvit Kamolvisit that he was complicit in tax evasion.
In a statement yesterday, Sansiri clarified the allegations that a purchase contract for the land in question, made between the company and the sellers, stated the latter were responsible for taxes and ownership transfer fees for the land sale while the company was only tasked with making payments at the agreed prices and getting the land ownership transferred.
The company had no knowledge of or involvement in the sellers' tax payments, said Sansiri. As the company's top executive, Mr Srettha had approved the land purchase as submitted by the company's property team.
"In his capacity as the company's top executive, Mr Srettha approved the purchase of the land plot. The land contract, payment and land ownership transfer were the duty of the property team, which was also responsible for coordinating [with concerned people]," the statement read.
The ownership transfer followed the proper procedures, laws and regulations at the Department of Land. The property giant insisted Mr Srettha had performed his task as the top executive and had not become involved in any land ownership transfers. The company stood firm that it had strictly abided by good governance and the rule of law in running a business.
Yesterday, Mr Chuvit held a press conference to present evidence of irregularities over the August 2019 deal, when Mr Srettha was the chief executive of Sansiri.
Mr Chuvit claimed Mr Srettha and Sansiri had colluded with the landowners to evade 521 million baht in taxes on the developer's purchase of a prime 400-square-wah (1 square wah = 4 square metres) plot on Sarasin Road in Bangkok.
The reported purchase price was 1.57 billion baht or nearly 4 million baht per square wah. It was the most costly land acquisition in the company's history.
He said Mr Srettha signed off on the purchase and sale agreement with the 12 people who owned the land under one title deed. The 12 owners formed an "ordinary partnership", under which each would be liable for excise tax on the proceeds of the sale, at a total of 521 million baht.
To dodge taxes, Mr Chuvit said each of the 12 went to the Department of Land to transfer smaller plots to Sansiri, taking 12 days to complete the process.
