Fox 4 Life Posted 13 November 2017 Share Posted 13 November 2017 Confirmed as accepted by a Thai court. This is a criminal case about £322m of unpaid tax. Do people see any potential impact on us? Not a small sum of money. http://www.cityam.com/275603/leicester-city-owner-face-gbp322m-court-battle-thai Link to comment Share on other sites More sharing options...
Guest MattP Posted 13 November 2017 Share Posted 13 November 2017 I'd imagine morally they owe our own government a bit as well given our accounts are based in the Virgin Islands. Link to comment Share on other sites More sharing options...
Fox 4 Life Posted 13 November 2017 Author Share Posted 13 November 2017 12 minutes ago, MattP said: I'd imagine morally they owe our own government a bit as well given our accounts are based in the Virgin Islands. That just isn't true. Leicester City Football Club is a UK registered company under the companies act and they are subject to UK tax laws. Check the latest accounts, we paid 4m tax on profits of 16m. Link to comment Share on other sites More sharing options...
SheppyFox Posted 13 November 2017 Share Posted 13 November 2017 Have they lost the case then? Link to comment Share on other sites More sharing options...
Guest MattP Posted 13 November 2017 Share Posted 13 November 2017 4 minutes ago, Fox 4 Life said: That just isn't true. Leicester City Football Club is a UK registered company under the companies act and they are subject to UK tax laws. Check the latest accounts Private Eye did a feature on us a year or so back, all the property purchases i.e stadium, land behind it and training ground all registered to AFI based in the BVI. Company Name ASIA FOOTBALL INVESTMENTS PTE. LTD. Registration No. 201013260R Incorporation Date 23/06/2010 Registered Office Address 96 Robinson Road #16-04 SIF Building Singapore (068899) Issued Share Capital of 1000 Ordinary UK Pound Shares held as follows: 1 held by SUPORNTHIP CHOUNGRANGSEE and 999 held by K POWER SPORTS INVESTMENT LIMITED of 3rd Floor Omar Hodge Building, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands Officers of the Company AIYAWATT RAKSRIAKSORN Date of Appointment 06/08/2010 Nationality THAI Position Held DIRECTOR NARIT CHIA-APAR Date of Appointment 03/09/2010 Nationality THAI Position Held DIRECTOR SUPORNTHIP CHOUNGRANGSEE Date of Appointment 03/09/2010 Nationality THAI Position Held DIRECTOR HENG SIEW MEI Date of Appointment 08/11/2010 Nationality SINGAPORE P.R. Position Held DIRECTOR HENG SIEW MEI Date of Appointment 05/07/2010 Nationality SINGAPORE P.R. Link to comment Share on other sites More sharing options...
Fox 4 Life Posted 13 November 2017 Author Share Posted 13 November 2017 1 minute ago, SheppyFox said: Have they lost the case then? Scheduled for February so not lost but just thinking about the potential impact if it is lost. Link to comment Share on other sites More sharing options...
Fox 4 Life Posted 13 November 2017 Author Share Posted 13 November 2017 4 minutes ago, MattP said: Private Eye did a feature on us a year or so back, all the property purchases i.e stadium, land behind it and training ground all registered to AFI based in the BVI. Company Name ASIA FOOTBALL INVESTMENTS PTE. LTD. Registration No. 201013260R Incorporation Date 23/06/2010 Registered Office Address 96 Robinson Road #16-04 SIF Building Singapore (068899) Issued Share Capital of 1000 Ordinary UK Pound Shares held as follows: 1 held by SUPORNTHIP CHOUNGRANGSEE and 999 held by K POWER SPORTS INVESTMENT LIMITED of 3rd Floor Omar Hodge Building, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands Officers of the Company AIYAWATT RAKSRIAKSORN Date of Appointment 06/08/2010 Nationality THAI Position Held DIRECTOR NARIT CHIA-APAR Date of Appointment 03/09/2010 Nationality THAI Position Held DIRECTOR SUPORNTHIP CHOUNGRANGSEE Date of Appointment 03/09/2010 Nationality THAI Position Held DIRECTOR HENG SIEW MEI Date of Appointment 08/11/2010 Nationality SINGAPORE P.R. Position Held DIRECTOR HENG SIEW MEI Date of Appointment 05/07/2010 Nationality SINGAPORE P.R. Most companies are registered in those kind of places (Cayman, BVI) somewhere in the ownership structure, it doesn't mean we don't pay tax. Most large US corporates are Delaware based due to the tax laws. The UK government are their own worst enemy as they allow tax avoidance but not evasion. In my mind there isn't much difference! Link to comment Share on other sites More sharing options...
GaelicFox Posted 13 November 2017 Share Posted 13 November 2017 34 minutes ago, MattP said: Private Eye did a feature on us a year or so back, all the property purchases i.e stadium, land behind it and training ground all registered to AFI based in the BVI. Company Name ASIA FOOTBALL INVESTMENTS PTE. LTD. Registration No. 201013260R Incorporation Date 23/06/2010 Registered Office Address 96 Robinson Road #16-04 SIF Building Singapore (068899) Issued Share Capital of 1000 Ordinary UK Pound Shares held as follows: 1 held by SUPORNTHIP CHOUNGRANGSEE and 999 held by K POWER SPORTS INVESTMENT LIMITED of 3rd Floor Omar Hodge Building, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands Officers of the Company AIYAWATT RAKSRIAKSORN Date of Appointment 06/08/2010 Nationality THAI Position Held DIRECTOR NARIT CHIA-APAR Date of Appointment 03/09/2010 Nationality THAI Position Held DIRECTOR SUPORNTHIP CHOUNGRANGSEE Date of Appointment 03/09/2010 Nationality THAI Position Held DIRECTOR HENG SIEW MEI Date of Appointment 08/11/2010 Nationality SINGAPORE P.R. Position Held DIRECTOR HENG SIEW MEI Date of Appointment 05/07/2010 Nationality SINGAPORE P.R. Bloody hell my company is registered at the exact same address ???? that’s amazing same floor as well ??? Pictures attached from when I moved the company there in 2011 I must try get a seat in the directors box now Link to comment Share on other sites More sharing options...
GaelicFox Posted 13 November 2017 Share Posted 13 November 2017 6 minutes ago, Fox 4 Life said: Scheduled for February so not lost but just thinking about the potential impact if it is lost. Their royal connections will ensure a deal is done its not really a criminal trial its the regime change just making it look legitimate and looking after the poor by whacking the rich Link to comment Share on other sites More sharing options...
Guest MattP Posted 13 November 2017 Share Posted 13 November 2017 6 minutes ago, Fox 4 Life said: Most companies are registered in those kind of places (Cayman, BVI) somewhere in the ownership structure, it doesn't mean we don't pay tax. Most large US corporates are Delaware based due to the tax laws. The UK government are their own worst enemy as they allow tax avoidance but not evasion. In my mind there isn't much difference! Exactly why I said "morally" rather than "legally". Link to comment Share on other sites More sharing options...
Richmondfox Posted 13 November 2017 Share Posted 13 November 2017 It won’t have any impact on us as it’s another part of the company in a different country. I spoke to my work mate about this as his girlfriend is from Thailand and he spends a lot of time out there. Since taking power the army have overspent and are looking at ways to try and squeeze some money that could be owed. It seems like KP had a sweet deal, whilst still paying a lot of taxes in a legally agreed contract, the gov are saying many contracts should have been higher tax payments. Link to comment Share on other sites More sharing options...
weller54 Posted 13 November 2017 Share Posted 13 November 2017 1 hour ago, Fox 4 Life said: Confirmed as accepted by a Thai court. This is a criminal case about £322m of unpaid tax. Do people see any potential impact on us? Not a small sum of money. http://www.cityam.com/275603/leicester-city-owner-face-gbp322m-court-battle-thai That's only equivalent to about 18 Musas! Link to comment Share on other sites More sharing options...
Captain... Posted 13 November 2017 Share Posted 13 November 2017 1 hour ago, MattP said: I'd imagine morally they owe our own government a bit as well given our accounts are based in the Virgin Islands. Are you not doing exactly the same thing? You didn't reply when I asked in the politics thread, but are you not setting yourself up in Ireland to avoid paying UK business tax? Link to comment Share on other sites More sharing options...
Chocolate Teapot Posted 13 November 2017 Share Posted 13 November 2017 59 minutes ago, GaelicFox said: Their royal connections will ensure a deal is done its not really a criminal trial its the regime change just making it look legitimate and looking after the poor by whacking the rich The case has gone on because they don't have any royal connections anymore - the King was protecting them, and the government have been trying to get them for a while. I'm not sure a deal will be done on this one, it's a massive corruption case and there is a possibility they could go down. Link to comment Share on other sites More sharing options...
Guest MattP Posted 13 November 2017 Share Posted 13 November 2017 11 minutes ago, Captain... said: Are you not doing exactly the same thing? You didn't reply when I asked in the politics thread, but are you not setting yourself up in Ireland to avoid paying UK business tax? No plans to at the minute as my business isn't big enough anyway, I qualify for an Irish passport though so totally different to a Thai living in Bangkok setting up in the BVI. Link to comment Share on other sites More sharing options...
Rogstanley Posted 13 November 2017 Share Posted 13 November 2017 1 hour ago, MattP said: Exactly why I said "morally" rather than "legally". Of all the people to be making this argument Link to comment Share on other sites More sharing options...
Rogstanley Posted 13 November 2017 Share Posted 13 November 2017 I think there are a few related cases against then and so far they've successfully defended them https://www.google.co.uk/amp/s/www.thesun.co.uk/sport/4066234/leicester-owner-vichai-srivaddhanaprabha-cleared/amp/ Doubt it will have much of an impact on LCFC in any case. Link to comment Share on other sites More sharing options...
danny. Posted 13 November 2017 Share Posted 13 November 2017 1 hour ago, MattP said: Exactly why I said "morally" rather than "legally". Thought you were a Tory?! Link to comment Share on other sites More sharing options...
Guest MattP Posted 13 November 2017 Share Posted 13 November 2017 1 minute ago, danny. said: Thought you were a Tory?! Never been a member of any political party. Although even if I was what difference would that make? Lord Ashcroft aside most of the tax avoidance in the papers released last week was from Labour councils. It's not a party political issue. Link to comment Share on other sites More sharing options...
Captain... Posted 13 November 2017 Share Posted 13 November 2017 21 minutes ago, MattP said: No plans to at the minute as my business isn't big enough anyway, I qualify for an Irish passport though so totally different to a Thai living in Bangkok setting up in the BVI. They are an international investment group, they have international HQ, the fact is they would be poor businessmen if they didn't pick somewhere that is the most cost effective. The fact that it is possible to do this (in a British overseas territory no less) is the issue. In a globalised world it is stupidly easy to do and completely legal. LCFC is registered in the UK, but is owned by AFI as I presume is OH Leuven, as you said morally maybe they should do more, but legally they are perfectly within their rights to do so and buy assets like the KP. Do I like it, not really, but every large company does something similar. The reluctance to target the tax havens is the issue. Whilst they exist international investment companies will base themselves there. Link to comment Share on other sites More sharing options...
les-tah Posted 13 November 2017 Share Posted 13 November 2017 The owners are very close to the thai royal family...this will disappear dont worry. Link to comment Share on other sites More sharing options...
Guest MattP Posted 13 November 2017 Share Posted 13 November 2017 4 minutes ago, Captain... said: They are an international investment group, they have international HQ, the fact is they would be poor businessmen if they didn't pick somewhere that is the most cost effective. The fact that it is possible to do this (in a British overseas territory no less) is the issue. In a globalised world it is stupidly easy to do and completely legal. LCFC is registered in the UK, but is owned by AFI as I presume is OH Leuven, as you said morally maybe they should do more, but legally they are perfectly within their rights to do so and buy assets like the KP. Do I like it, not really, but every large company does something similar. The reluctance to target the tax havens is the issue. Whilst they exist international investment companies will base themselves there. Not arguing with a word of that, that's why I said "morally" at the start. Link to comment Share on other sites More sharing options...
Captain... Posted 13 November 2017 Share Posted 13 November 2017 3 minutes ago, MattP said: Not arguing with a word of that, that's why I said "morally" at the start. Oh I know, I just find it funny that you are the only one who consistently brings this up, and it is generally at odds with what you say on the politics thread. Link to comment Share on other sites More sharing options...
somebum Posted 13 November 2017 Share Posted 13 November 2017 Maybe a reason for all the cringeable signs 'in honor of the king' bs we put up with every game. Brown nosing ? Link to comment Share on other sites More sharing options...
Bob Hazels shorts Posted 13 November 2017 Share Posted 13 November 2017 3 minutes ago, somebum said: Maybe a reason for all the cringeable signs 'in honor of the king' bs we put up with every game. Brown nosing ? Fairly normal in Thailand and much of the Far East. I think its called respect, and whether agreed with it or not whilst they pay the bills maybe we should appreciate that Urinating on war memorials is how the UK show respect Link to comment Share on other sites More sharing options...
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