The People’s Party (PP) has followed up their no-confidence motion with petitions for formal investigations into Prime Minister Paetongtarn Shinawatra’s controversial purchase of shares and her family’s land acquisition in Khao Yai.
Two days after the censure debate wrapped up, PP MPs, led by deputy leader Wiroj Lakkhanaadisorn, on Friday submitted a letter to the Revenue Department to formally examine the premier’s use of promissory notes (PNs) to buy shares and determine whether it was an act of tax evasion.
He said yesterday that a formal ruling on this matter is needed because it involves the prime minister who is both the head of the government and in charge of the committee on fiscal and monetary policy.
Early this week, during the no-confidence debate, Mr Wiroj alleged that the use of PNs could be construed as an attempt to avoid the 5% gift tax because no repayment or interest rates were specified.
Pinsai Suraswadi, chief of the Revenue Department, previously explained that if shares are sold using PNs, tax must be paid when the PN is paid in cash.
In this case, it is known that the PM will make a cash payment in 2026, meaning the recipient must include this income in their 2026 tax calculation and file the tax form in 2027.
Mr Wiroj said the department chief had failed to consider, as asked by the PP, whether the transaction was disguised as a purchase to avoid tax when it was later given as a gift.
“Many people consider the PN a financial tool, and there is nothing wrong with using it. But we have to look into the matter to see if it is an actual purchase or fabricated to avoid the payment.
“A formal decision by the Revenue Department’s tax arbitration committee is being sought in this case so that the ruling can also be used as a guideline for the general public,” he said.
The department chief may be invited to give information to the House committee on economic development, too, he added.
The PP MPs also later lodged another petition with the Department of Land (DoL) to examine the issuance of land documents for “Thames Valley Khao Yai”, a luxury hotel owned by the Shinawatra family in Nakhon Ratchasima.
The opposition argued that the plot housing the luxury hotel, which was part of the Lam Takhong self-help settlement, is in a watershed area where land documents cannot be issued.
The self-help settlement was established in 1970 for individuals displaced by the construction of the Lam Takhong Dam. The DoL earlier advised the issuance of documents was in accordance with regulations.
Ms Paetongtarn, meanwhile, acknowledged the PP’s action against her, insisting that every transaction was above board.
