Bangkok: During a no-confidence debate in Thailand’s House of Representatives, Ms. Pimporn Pornphruethiphan, a Member of Parliament from Phetchabun representing the Palang Pracharath Party (PPRP), raised serious concerns about Prime Minister Paethongtarn’s financial dealings. She accused the Prime Minister of potentially transferring assets to relatives in a manner that might circumvent tax obligations, a duty expected of all Thai citizens.

According to Thai News Agency, Ms. Pimporn highlighted questionable legal transactions involving the Prime Minister’s declaration of assets and debts, which reportedly include over 4,434 million baht in debts under promissory notes. These notes are intended for paying shares to the Prime Minister’s relatives and family members. She pointed out that these promissory notes have been in existence since 2016, yet they lack a specified repayment period and do not accrue interest, raising suspicions about the intentions behind them. Under Section 7 of the Civil and Commercial Code, personal loans without an agreed-upon interest rate can legally charge 3 percent interest per year, potentially amounting to 132 million baht annually in taxes.

Ms. Pimporn emphasized the potential impact of this money, suggesting that even if the amount seems insignificant, it could bring substantial benefits to remote areas where people are in need. She further questioned the absence of any personal income tax debt or income tax expenses in the Prime Minister’s tax documents, speculating whether the loan under the promissory note constitutes a legal transaction that might result in lost tax revenue for the state. Under Section 39 of the Revenue Code, assessable income includes cash, assets, and other benefits with monetary value.

The MP also scrutinized the Prime Minister’s submission of personal income tax returns, which purportedly show estimated annual income and property rental income, typically requiring a tax return form, Por Ngor Dor 94. However, only forms Por Ngor Dor 90 and 91 were found in the supporting documents. Failure to submit Por Ngor Dor 94 could be interpreted as a breach of the duties mandated by Constitution Section 50 (9), which obliges all Thai citizens to pay taxes according to the law. While this may not be a grave offense if rectified through additional forms, payments, and fines, she argued that the Prime Minister must exercise utmost caution, as negligence in governance can harm the nation.

Furthermore, Ms. Pimporn expressed concerns over the share transfer process, noting the absence of income from outstanding share purchases or sales in the Prime Minister’s asset and liability account submitted to the National Anti-Corruption Commission (NACC). She suggested that the Prime Minister’s reported income might not fully disclose asset sales, and even if the transfer was a gift, personal income tax would still apply. She urged the Prime Minister to clarify these accounting discrepancies.