Sansiri clarifies that land purchase is legal and good governance Not participating in Sansiri's land purchase tax evasion causing the state to lose hundreds of millions of baht as reported in the news

According to the media, the news alluded to Srettha Thavisin that, when she was the chief executive and director of Sansiri Public Company Limited, had participated in tax evasion in Sansiri's land purchase. causing the state to lose revenue in the amount of hundreds of millions of baht, the company would like to clarify that

The contract to buy and sell such plots of land between Sansiri and the seller. Set the seller to be responsible for the tax. All fees and expenses for the transfer of ownership together with the seller's legal duty to pay the above taxes as well. Sansiri is obligated to pay the price in full as agreed. And accept the transfer of land ownership only. Sansiri is not aware or involved in any method or action. Taxation of the seller as mentioned above. and received no benefit from tax savings and seller transfer costs

In Sansiri's land purchase, Khun Settha, when she was the top executive and director of Sansiri will be involved only in the land purchase approval process considering the numbers And the information that Sansiri's land acquisition team has prepared and presented to the executive meeting to consider and present to the Board of Directors of the company to approve the land purchase and investment respectively. and Sansiri's directors therefore approved only the price and investment value. As for the contract to buy and sell the land, the payment and the transfer of ownership will be the duty of the land recruitment team who will be responsible for all management and coordination.

After Sansiri Has entered into an agreement to buy and sell and place a deposit to buy land for several months before the transfer of ownership The seller is the one who informs about the details of how to transfer the ownership and pay the remaining price to know that Want to transfer only the part according to the list of owners of the land as reported in the news The land recruitment team responsible for the execution of the contract considers that Such actions can be performed legally. And it still complies with the terms of the contract. In addition, it will not affect Sansiri's complete transfer of ownership of the land according to the agreed contract. and does not cause Sansiri to suffer any damages or expenses In addition to what was agreed in any way. The land acquisition team therefore decided to proceed as the seller notified.

Sansiri made payment for almost all of the said plots of land. By check and cashier's check There was a cash payment of only 301,000.-Baht (Three Hundred and One Thousand Baht). There was no large cash payment as claimed in any way. The land officer recorded that Land sales are paid by cashier's check. The remainder paid in cash is because Sansiri has completed the deposit payment to the seller according to the purchase and sale agreement several months before the land ownership transfer registration date. The normal practice of The Department of Lands will record the difference in the cost of land where a copy of the cashier's check is not presented on the transfer date as a cash payment.

The transfer of ownership of such plots of land It is operated by the Department of Lands in accordance with relevant laws and regulations. and the registration fee has been paid Withholding tax, specific business tax/stamp duty as already charged and Sansiri received the transfer of ownership of the land at the agreed price.

From the facts explained above, it can be seen that Khun Srettha, who is the top executive and directors of Sansiri at that time has performed the duties of safeguarding the Company's interests completely and is not involved in and aware of the land ownership transfer algorithm as mentioned above Because it is a process that occurs after the contract to buy and sell and is the responsibility of the land recruitment team who is the operations department to manage according to the contract and legally. Sansiri's land purchase transaction It is a normal purchase of land in the general real estate development business.

Source:https://www.bangkokbiznews.com/property/1081676

Date 3/08/2023