Bangkok: Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, has called for further details regarding the potential use of promissory notes (PNs) as a means to avoid taxes. He expressed his desire to understand how the general public might exploit this model for tax evasion and revealed that the qualifications check for the prospective chairman of the Bank of Thailand board is nearing completion.
According to Thai News Agency, Mr. Pichai discussed the Cabinet's review of a draft Royal Decree or Emergency Decree aimed at amending the powers of the Securities and Exchange Commission (SEC). After the Cabinet meeting, he intends to make a formal statement, emphasizing that he refrains from speculating whether the SEC's powers will be expanded until official approval is granted.
Regarding the nomination for the new chairman of the Bank of Thailand, Mr. Pichai noted that the proposal has not yet reached his desk as the qualification assessment is still underway. He acknowledged some concerns over the lengthy examination process but anticipates a resolution soon.
On the topic of potential measures by the Ministry of Finance to curb tax evasion through promissory notes, Mr. Pichai reiterated his interest in reviewing the specifics of the matter. Additionally, when questioned about the possibility of the public using parliamentary debates as a loophole for tax avoidance, he deferred comments pending further details, and declined to speculate on future preventive measures.