His current situation can be summed up in one sentence: retired but not at rest, evading scrutiny yet unable to escape it. With ongoing legal proceedings looming and courts and the tax authority now targeting his personal assets, even his armored vehicle used for daily travel may soon be seized.
He has invoked concerns over personal safety, asserting that during his tenure as prime minister he survived four assassination attempts, and if even his armored car is taken away, who would be accountable should something happen?
Whether this claim reflects genuine fear or strategic posturing remains unclear, but it underscores his evident anxiety. Despite having stepped away from politics, he remains an inescapable figure in Thai political discourse—true retirement proves elusive.
The roots of this crisis lie two decades ago. He sold 48% of Siam Commercial Group, Thailand’s largest telecom operator founded by his family, to Singapore’s Temasek Holdings for $1.9 billion. The transaction utilized offshore structures and tax-exempt provisions under stock market regulations, legally minimizing tax liability.
Yet the controversy stems not merely from commercial interests but from his role as prime minister. The company controlled critical communication infrastructure and security resources; selling national telecommunications assets to a foreign sovereign fund sparked widespread debate, accompanied by accusations of betrayal.
Even more sensitive was the timing: shortly before the deal, Thailand’s parliament amended the Telecommunications Act, raising foreign ownership limits from 30% to 49%, a move critics labeled as “tailor-made.” This transaction ultimately catalyzed the rise of the Yellow Shirt movement, triggered a military coup, and forced him into exile for over a decade.
After the coup, successive military governments and anti-corruption bodies launched comprehensive investigations. The Revenue Department concluded the transaction involved concealment and fraud, falling within taxable scope, and has demanded repayment of taxes plus interest totaling 17 billion baht—over $500 million. His legal team maintains the claims constitute “double taxation” and “illegal enforcement.”
Since being granted parole in May and returning to relative seclusion, he has remained under constant pressure. Allegations of assassination threats are not without basis: the 2001 explosion on a Thai Airways private jet, and the failed car bombing in 2006, both left lasting scars. Given longstanding tensions between his family and royalist factions and the military establishment, and with multiple relatives—including Yingluck, Thaksin, and Pheu Thai leaders—facing setbacks, personal survival has become a paramount concern.
The tax authorities continue their pursuit. Failure to settle the debt could result in asset seizure and potential bankruptcy proceedings. Yet he also understands that without assurances from royalist factions offering a path to resolution through financial compromise, he risks losing both his wealth and freedom—making surrender unlikely.
The standoff may reach a decisive point next month. What observers witness is a once-dominant political figure, in old age, still pursued by past controversies and former adversaries.
Original: toutiao.com/article/1878535214815236/
Disclaimer: The views expressed in this article are those of the author alone.