Thaksin testifies in tax court to block asset seizures over 17.6 billion baht Shin Corp bill

Former Thai prime minister Thaksin Shinawatra testified at the Central Tax Court in Bangkok on Wednesday to try to stop the Revenue Department from seizing more of his assets to collect a tax bill of about 17.6 billion baht ($504 million) from the 2006 sale of his telecoms firm, Shin Corp.

Thaksin testified for more than two hours at a hearing on his request for temporary protection while his lawsuit against the Revenue Department proceeds, his chief lawyer, Winyat Chatmontri, said, according to Thai PBS. The court heard two witnesses for Thaksin and two tax officials for the department. It will rule on November 26 on whether to grant a temporary injunction.

Appearing in person, the 77-year-old told the court that the assets at risk include five cars, two of them bullet-proof, which he linked to his personal safety, according to AFP. He said he had faced four attempted assassinations while in office. If his cars were taken, he asked, "Who will take responsibility?"

His lawyers argue that further seizures amount to duplicate enforcement. They say the proceeds of the Shin Corp share sale were already confiscated by the state under an earlier Supreme Court ruling, which ordered the seizure of 46 billion baht in assets. Winyat has said the Revenue Department should seek the disputed money from the Finance Ministry instead of taking more of Thaksin's assets.

The Revenue Department holds a final judgment. The Supreme Court's Tax Division ruled that its assessment was lawful, which made the debt immediately enforceable. The total is 17,629,585,191 baht, including tax, penalties and surcharges, under a notice issued on March 28, 2017. The Supreme Court found that Thaksin's son and daughter, Panthongtae and Pintongta Shinawatra, held the Shin Corp shares as agents acting for him, and accepted that he had 15.88 billion baht of assessable income for the 2006 tax year.

The department has said it is tracing Thaksin's assets in Thailand and abroad. The Bangkok Post reported earlier that land and some bank deposits had been seized or frozen but were not enough to cover the debt. The Nation reported that the department could file a bankruptcy case if the debt is not fully recovered.

Thaksin filed his lawsuit against the department in July. The Thai Examiner reported that an injunction would temporarily limit the department's ability to enforce the debt against additional assets while the main case continues, and that the main case resumes on November 16.

Thaksin was elected prime minister in 2001 and 2005 and was ousted by the army in 2006. AFP describes him as one of Thailand's richest people. His dispute with the Revenue Department stems from the sale of Shin Corp to Singapore's Temasek Holdings, a deal that was tax-free at the time, according to AFP.