Thaksin’s freedom may be restored but a 17.6 billion baht tax battle is far from over. Thailand’s Revenue Department is hunting assets at home and abroad and warns bankruptcy proceedings could follow if the former PM fails to pay his finalised tax debt.
Former Prime Minister Thaksin Shinawatra emerged from prison on May 11th and last week had his freedom fully restored by Royal Pardon. Yet he now faces a fresh challenge as Thailand’s Revenue Department steps up efforts to collect a finalised 17.6 billion baht tax debt linked to the Shin Corp share sale. Following a Supreme Court ruling that upheld the assessment, officials are tracing assets in Thailand and overseas, pursuing enforcement measures across multiple agencies and warning that bankruptcy proceedings remain an option if the debt is not paid in full.
Thailand’s Revenue Department has intensified efforts to collect 17.6 billion baht from former prime minister Thaksin Shinawatra, warning that bankruptcy proceedings remain a possible next step.
The agency says the debt is now final following a Supreme Court ruling that upheld its tax assessment and ended years of litigation over the sale of Shin Corp shares.
In a statement issued on June 6, the department said it was accelerating collection efforts under Supreme Court Judgment No. 6890/2568. The ruling was read on November 17, 2025. It found that the assessment issued by tax officials was lawful. As a result, the case was closed and the assessed liability became final.
Revenue Department steps up pursuit of Thaksin’s tax debt after Supreme Court ruling stands
The announcement marks a significant stage in one of Thailand’s largest outstanding tax disputes. Revenue officials say the focus has now shifted from litigation to enforcement. The department stressed that collection measures are being pursued within legal deadlines and statutory limits.
According to the agency, collection efforts never stopped while appeals were pending. Even during proceedings before the Appeals Committee and the courts, officials continued pursuing the debt. Payment notices were issued throughout the process. At the same time, investigators examined assets that could potentially be seized or frozen.
Mr Somsak Anantawat, Strategic Tax Collection Advisor for the Energy Business Group and acting director-general of the Revenue Department, said officials have continuously pursued the liability since the assessment was first issued. He said the department acted within the legal framework at every stage of the dispute.
Notably, the department is now tracking assets both inside Thailand and overseas. Officials say they are coordinating with various agencies to identify methods of enforcing payment. Those efforts remain active. The department did not disclose which assets are currently under review.
Revenue officials track assets in Thailand and abroad as the collection campaign gathers pace
In parallel, investigators are examining all available legal mechanisms to recover the debt. Revenue officials say asset tracing remains a central part of the collection strategy. The department believes cooperation with multiple agencies will strengthen enforcement options.
Separately, the agency sought to rebut suggestions that collection efforts had slowed during the court battle. Officials said enforcement activity continued throughout the appeals process. They maintained that tax notices, asset investigations and debt recovery measures were pursued continuously.
The Supreme Court ruling removed the final obstacle facing the department’s enforcement campaign. Revenue officials say there is now no legal uncertainty surrounding the assessment itself. Consequently, collection efforts can proceed on the basis of a final debt determination.
As part of this process, officials are reviewing every available avenue for recovery. The department says its objective is full payment of the assessed amount. Revenue officers have been instructed to pursue collection within the framework established by law.
Bankruptcy lawsuit against Thaksin emerges as an option if the tax debt remains unpaid in full
However, the department’s strongest warning concerns the possibility of bankruptcy proceedings. Officials stated that if full payment is not received according to the assessment, the agency will consider filing a bankruptcy lawsuit against Thaksin.
In response to questions about future action, the department said bankruptcy remains a legal option available under existing legislation. Officials stressed that any such move would occur within prescribed legal timeframes. They also said action would be taken to prevent damage to the government.
The warning represents a clear escalation in tone. Earlier statements focused largely on collection measures and asset investigations. This time, officials openly highlighted bankruptcy as a potential outcome if recovery efforts fail.
Revenue Department says legal deadlines are being observed in a push to recover taxes
On another front, the department emphasised that enforcement action is being conducted within applicable statutes of limitation. Revenue officials said every stage of the process has been timed to comply with legal requirements. They argued that this approach protects the state’s ability to recover unpaid taxes.
The June 6 statement followed a separate clarification issued on June 5. That announcement repeated the department’s position regarding the Supreme Court ruling.
It stated: “According to the Revenue Department’s press release regarding the expedited collection of taxes from Mr. Thaksin Shinawatra pursuant to the Supreme Court’s judgment No. 6890/2568, which was read on November 17, 2025, the court ruled that the assessment by the tax officials was lawful. Therefore, the case is closed and the tax debt as assessed is final.”
Revenue Department repeats the position that the court ruling made Shin Corp tax debt final
Likewise, the department repeated its position on enforcement measures. It stated that officials had “continuously pursued and expedited the collection of outstanding taxes from Mr. Thaksin Shinawatra within the legal framework.” The statement added that this included issuing payment notices and investigating assets for possible seizure or freezing.
Meanwhile, officials continue to pursue information relating to assets both domestically and internationally. Coordination with relevant agencies remains ongoing. Revenue officers say those efforts are intended to identify practical routes to enforce payment of the debt.
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For now, the department’s primary objective remains the recovery of the full 17.6 billion baht. Yet its latest statement leaves little room for ambiguity. If collection efforts fail and the assessed taxes remain unpaid, bankruptcy proceedings may become the next phase of the government’s campaign to recover the debt.
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Further reading:
Attorney General’s move to appeal Thaksin acquittal on lèse-majesté charge to impact 2026 election
