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Tax evasion and tax fraud over 10 million baht are serious money laundering offences

On 1 April 2017, The Government Gazette distributed the Revenue Code Amendment Act (No. 45) B.E. 2560 to prescribe that taxpayers who have committed tax evasion, tax fraud over 10 million baht or requesting tax refund by false information, fraud, artifice, or other similar nature more than 2 million baht and taxpayers who have collaborated with accomplices or connections by creating false business transaction or hidden income to commit tax evasion and tax fraud will be considered as a predicate offence under the Prevention and Suppression of Money Laundering Law. As a consequence, the Revenue Department shall send all data to the Anti-Money Laundering Office to proceed according to laws.

With effect from 2 April 2017.

Source: The Government Gazette, Volume 134, Part 37Kor, Page 1, 1 April 2017.