Thailand May Seek Thaksin Bankruptcy Over $538 Million Tax Debt

Thailand’s Revenue Department said it may pursue bankruptcy proceedings against former Prime Minister Thaksin Shinawatra if it is unable to fully recover 17.6 billion baht ($538 million) in outstanding tax liabilities.

Following a Supreme Court ruling that upheld the tax assessment against him, the agency has continuously pursued collection efforts, Acting Revenue Department Director General Somsak Anuntawat said in a statement on Friday. That included issuing payment notices and investigating assets that could be seized or frozen to settle the tax debt.

Thaksin’s lawyer didn’t immediately respond to a request for comment outside normal business hours.

Thaksin Shinawatra departs from Klong Prem Central Prison in Bangkok on May 11.

Photographer: Dario Pignatelli/Bloomberg

The move follows ...