Bangkok:"Pholpeer" has set a deadline of November 10th for the "Good Deeds Organization Foundation" to submit its financial statements, as the foundation has not submitted any since its registration in 2022. Failure to comply will lead to legal action.
According to Thai News Agency, the Ministry of Interior is taking serious action by preparing to revise foundation laws to enhance oversight and increase penalties. The Ministry is contemplating a system for donors to track their contributions to their final destination. The "Boom Panadda" foundation, registered in 2022 but yet to report accounts, faces pressure from the Ministry to submit financial statements by November 10th, with the possibility of legal repercussions for non-compliance.
Deputy Minister of Interior, Mr. Polpeer Suwannachawi, announced post-meeting measures to supervise and inspect foundation registrations, ensuring donations are utilized as intended. The Ministry, not complacent, is investigating and has involved the Department of Land to integrate efforts, leading to potential amendments in regulations and laws related to foundation establishment, inspection, and transparency. Currently, foundations and associations report information online, including meeting reports and financial statements. Mr. Anupong Suksomnit, Deputy Permanent Secretary, is tasked with evaluating the disclosure of donor information to enhance transparency.
General Phonlapir emphasized the Ministry's commitment to transparency, stating that investigations into financial transactions fall under the Anti-Money Laundering Office (AMLO). The Ministry can only probe reported accounts, summoning foundations for clarification if discrepancies arise. Collaborations with agencies like the Royal Thai Police and AMLO are underway to ensure comprehensive information sharing.
In cases of wrongdoing, Mr. Polpeer explained that a foundation's registration could be revoked, but court consideration is necessary first. Once closed, foundation assets default to the state unless specified otherwise. For Boom Panadda, assets are to be donated to the Thai Red Cross Society.
Mr. Polpeer also highlighted measures to protect citizens from unclear foundation activities. He tasked Mr. Anupong with exploring additional accounting systems for detailed financial transparency. Privacy laws and donor anonymity are to be considered before new guidelines are established.
Regarding celebrities receiving donations through personal accounts, Mr. Polpeer advised transparency and separation of funds, suggesting consultation with the Ministry for legal recognition of charitable activities. Legal amendments might follow to address this issue.
Lastly, Mr. Polpeer advised caution to the public before donating to organizations, stressing the importance of verifying compliance with Ministry reporting requirements. The Ministry is also examining foundations owned by foreigners for potential misuse as business fronts or unauthorized asset transfers.