Treasury finds some suspects of “The Icon” not filing taxes, preparing to review fraud laws to be up-to-date
Chulaphan reveals that the Revenue Department has found that some suspects of “The Icon” did not file taxes and will send information if requested. They are preparing to review the law on fraud to make it more up-to-date.
On October 18, 2024, Mr. Chulaphan Amornvivat, Deputy Minister of Finance , revealed regarding the "The Icon" case that Prime Minister Paetongtarn Shinawatra had instructed each agency at the Cabinet meeting to consider amending relevant laws and regulations. In the case of the Ministry of Finance, relevant laws include the Emergency Decree on Fraudulent Lending to the Public, B.E. 2527 (1984).
“This law has been in use for a long time. It is very old. It should be revised to make it more up-to-date.”
He has ordered the Fiscal Policy Office (FPO) to consider the details of all laws to see how they need to be revised to keep up with current events and situations.
“We still cannot give an answer on how to amend the law. We will discuss this with the NESDB next week.”
Meanwhile, the Revenue Department has investigated the details of the tax filing of 18 suspects, including The iCon Group, and found that some did not file tax forms. If the investigation team coordinates to request information from the Ministry of Finance, the information will be forwarded.
“From the report received from the Revenue Department at this time, it was found that some executives of The Icon did not file tax returns, but it is impossible to say how many. Not filing tax returns is not wrong. They may not have had any income that year. We will have to find out.”
Meanwhile, the Treasury has also issued a letter to banks requesting them to submit information for inspection of both personal and corporate income tax payments.
“The Treasury Department is considered a part of the auditing team, and if there is a request for information, we are happy to fully cooperate.”
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