Evading taxes worth 10 million baht or more, or fraudulently filing for tax refunds of 2 million baht or more through collusion, shall be considered a money-laundering offence, according to a new law taking effect on Sunday. The amendment to the Revenue Code published in the Royal Gazette on Saturday added a provision on tax penalties. In essence, it classifies evading taxes of 10 million baht or more per tax year, or fraudulently filing for tax refunds of 2 million baht or more through collusion, as a money-laundering offence. The screening committee comprises the Revenue Department director-general, his deputies and revenue advisers. The law also aims to enhance efficiency in suppressing tax evasion and fraud.

Source: Bangkok Post April 02, 2017 11:15 UTC