Facing tax revenues short of target, the Thai Revenue Department has announced it will launch investigations into possible income tax evasion.
As reported in the Bangkok Post, the investigations will focus on owners of residential properties worth 40 million THB or more and will require those who own cars worth more than 3 million THB to report their possessions. The probes will also require grey-market operators, such as independent car importers and distributors, to report their transactions.
According to Mr. Sutthichai Sangkamanee, Director-General of the Revenue Department, the probes are part of the Revenue Department’s measures to improve tax collection efficiency and enhance transparency and fairness.
The Revenue Department’s official announcement on the investigations will be available here.