Singaporean businessman arrested at Thailand airport over alleged S$207K tax evasion
A 71-year-old Singaporean businessman was arrested at Bangkok’s Suvarnabhumi Airport earlier this week while attempting to board a flight back to Singapore, after Thai authorities accused him of evading 5.24 million baht (approximately S$207,000) in value-added tax (VAT).
Source: Matichon
According to Police Major General Thatphum Charuprat, commander of Thailand’s Economic Crime Suppression Division (ECD), the man — identified as Liu David — was detained at the immigration checkpoint after an arrest warrant was issued on 6 May.
Company allegedly declared zero income despite operating
The arrest follows a complaint lodged by the Revenue Department against iSentia Monitoring Services (Thailand), a firm providing information services.
Liu was listed as an authorised director at the company from 1 July to 30 Oct 2015.
Source: Matichon
Although the company was VAT-registered, it allegedly submitted tax filings declaring zero sales, zero purchases, and zero tax payable.
However, a subsequent audit uncovered that the company had in fact generated income during the period in question, prompting officials to suspect intentional misrepresentation of its financial activity.
Investigators found that the company’s VAT returns were falsely declared, causing estimated losses of 5,239,319 baht in state revenue.
The charge under Thai law includes evading or attempting to evade VAT by means of fraud, deception, or other similar methods.
Suspect denies wrongdoing
After multiple summons went unanswered, investigators sought a warrant for Liu’s arrest, suspecting he might attempt to flee the country.
During questioning, he admitted to having served as the company’s authorised director but denied any wrongdoing in connection to the VAT charges.
He has since been handed over to ECD investigators for further legal action.
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S’porean man busted in Thailand for selling drug-laced vapes worth nearly S$627K
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Featured image adapted from Matichon.
