Quote Originally Posted by nostromo View Post

Quote Originally Posted by Butterfly View Post
Quote Originally Posted by nostromo
"The transaction, done through the Stock Exchange of Thailand (SET), was made without capital gains tax" Your BKK Post. There is no tax on stock exchange deals made on open market in Thailand. For Thaksin or anyone else involved in stock trading. I suppose you dont have any shares - except of TAN and Yellow Shirt Co-op - so you might not be familiar with this.
This is true for Individuals, not for companies. In the case of "Ample Rich", it was a corporation, located offshore, and therefore was tax liable on the amount they would SELL with first a 10% withholding tax on total proceeds, and then a declaration to the Revenue department to calculate the full amount tax due based on cost.

Technically the offshore company is tax liable, not the individual shareholders, that's why they couldn't ask the tax to Thaksin children. I suspect that Ample Rich had received only 90% of the sale proceeds and 10% was withhold by the Exchange for the tax authority. It's still a good deal for Thaksin but the purpose of the Ample Rich offshore corporation wasn't tax avoidance, au contraire since the tax code here is very harsh for corporation investing in listed shares. The real purpose of the offshore company was share manipulation and asset concealment. They already ruled on that and I am sure Ample Rich came into the equation for the decision.
Butters thanks for a very intelligent reply. Not that I agree. What you said of Ample Rich is your take. All large corporations have offshore companies, I have one too.
Mine is bigger than yours ...