(Bangkok, 7th Comprehensive News) The Thai Revenue Department stated that if it is unable to recover the full amount of the unpaid tax totaling 17.6 billion baht (about 2.185 billion ringgit), it may file for bankruptcy against former Prime Minister Thaksin.
According to Bloomberg, acting director-general Somchai of the Thai Revenue Department said in a statement on Friday (June 5) that after the Supreme Court ruled that Thaksin must pay all back taxes and penalties related to the sale of telecom company Shin Corp nearly 20 years ago, the tax department has been continuously pursuing the outstanding funds, including issuing payment notices and investigating assets that may be seized or frozen to cover the tax bill.
According to Somchai, the Revenue Department is currently tracking Thaksin’s assets both in Thailand and abroad and coordinating with relevant agencies to take enforcement action.
Somchai stated: “If all enforcement measures have been exhausted but Thaksin still fails to pay the full taxes owed, the Department will consider initiating bankruptcy proceedings against him. We will continue to take action within the statutory timeframe and limitation period in order to protect the national interest.”
In January 2006, Thaksin sold his shares in Shin Corp to Singapore's Temasek Holdings for 73 billion baht without paying tax, sparking public outcry accusing him of “selling out the country”, followed by massive anti-government protests in Bangkok.
In 2017, Thai tax officials first pursued Thaksin for the taxes. Since then, the case has been bounced around various courts. On November 17, 2025, the Supreme Court overturned lower court decisions to dismiss the case and ruled that Thaksin must pay 17.6 billion baht in taxes and penalties.
The Bangkok Post quoted political sources as saying that although conservatives continue to exert pressure, the current government is unlikely to aggressively pursue accountability against Thaksin, mainly due to political calculations.
Although the ruling coalition is led by the Bhumjaithai Party, the government is highly dependent on the support of the Pheu Thai Party. The 76-year-old Thaksin is widely regarded as the true power holder and spiritual leader of the Pheu Thai Party. Any move to reexamine the Shin Corp scandal or to seek compensation from Thaksin would almost certainly trigger tensions within the ruling coalition and could destabilize the government.
According to Somchai, the Revenue Department is currently tracking Thaksin’s assets both in Thailand and abroad and coordinating with relevant agencies to take enforcement action.
Somchai stated: “If all enforcement measures have been exhausted but Thaksin still fails to pay the full taxes owed, the Department will consider initiating bankruptcy proceedings against him. We will continue to take action within the statutory timeframe and limitation period in order to protect the national interest.”
In January 2006, Thaksin sold his shares in Shin Corp to Singapore's Temasek Holdings for 73 billion baht without paying tax, sparking public outcry accusing him of “selling out the country”, followed by massive anti-government protests in Bangkok.
In 2017, Thai tax officials first pursued Thaksin for the taxes. Since then, the case has been bounced around various courts. On November 17, 2025, the Supreme Court overturned lower court decisions to dismiss the case and ruled that Thaksin must pay 17.6 billion baht in taxes and penalties.
The Bangkok Post quoted political sources as saying that although conservatives continue to exert pressure, the current government is unlikely to aggressively pursue accountability against Thaksin, mainly due to political calculations.
Although the ruling coalition is led by the Bhumjaithai Party, the government is highly dependent on the support of the Pheu Thai Party. The 76-year-old Thaksin is widely regarded as the true power holder and spiritual leader of the Pheu Thai Party. Any move to reexamine the Shin Corp scandal or to seek compensation from Thaksin would almost certainly trigger tensions within the ruling coalition and could destabilize the government.