Deposed prime minister Thaksin Shina-watra may be ban-ned from politics until 2010 if the Assets Examination Committee finds he submitted false declarations over Shin Corp share sales to Ample Rich.

AEC Shin Corp probe panel chairman Viroj Laohapan said his committee suspected Shin Corp shares were indirectly sold to Ample Rich with intent to avoid tax.

Ample Rich was established in the British Virgin Islands on March 12, 1999 with only $US1 (Bt34.98). Thaksin extended a Bt329.2 million loan to the company to purchase 32.92 million Shin Corp shares at Bt10 each.

Thaksin is said to have borrowed the money from his wife, Khunying Pojaman.

The AEC has asked the National Counter Corruption Commission (NCCC) to check if Thaksin submitted correct asset declarations for this transaction.

NCCC member Klanarong Chantik said Thaksin became prime minister in 2001 and should have submitted details of this Ample Rich transaction. If he was found to have not done this he could be banned from politics for five years.

The agency is now considering when a ban on involvement in politics would start if Thaksin was convicted.

The Constitution Court earlier found Thai Rak Thai Party deputy leader Prayudh Mahagitsiri guilty of a false asset declaration. He was banned for five years from the day he resigned as a senator.

If the NCCC applies the Prayudh ban as a precedent Thaksin would be banned until 2010.

Meanwhile, an AEC source said a letter to the Revenue Department seeking a tax-liability ruling on Shin Corp share sales could not be used as evidence they attempted to follow the law.

Pranee Wetchapruekpitak, a Shinawatra family accountant, wrote the letter.

The source said the letter did not specifically name Pinthongta and Panthongtae.

An AEC subcommittee on Mon-day concluded that the two Shina-watra siblings owed more than Bt10 billion in tax in connection with the Shin Corp deal. The Revenue Department will issue a demand for the tax. If they refuse to pay, they will be prosecuted in the Criminal Court.

Both have the right to appeal to the Supreme Court but must deposit a surety first.

Revenue Department director-general Sanit Rangnoi said after Monday's deadline for the submission of income-tax returns neither showed income from their Bt5.6 billion Shin Corp share transactions.

The department would invite both to have their income appraised again. If they were unhappy with this they could appeal to a panel made up of representatives from the Revenue Department, Interior Ministry and the Attorney General.

If, after this, they remain dissatisfied, they could take the matter to the Supreme Court.

Bancha Khaengkhan,

Opas Boonlom

The Nation