Leicester’s owners deny owing £323m in tax in Thailand

November 15 – The Thai owners of surprise 2016 English Premier League champions Leicester City have categorically denied allegations they owe over £300million to their government.

King Power International, owned by Vichai Srivaddhanaprabha and his family, are alleged to have failed to pay 14 billion baht (£323m) from the operation of a duty-free franchise awarded in 2006.

On Monday a court in Bangkok was reported by Reuters to have accepted a lawsuit against the company.  The allegations of unpaid taxes stem from King Power-owned duty free shops at airports in Thailand.

However, the club and King Power say the allegations “have yet to be accepted” and that they will “fight rigorously” any attempts to “discredit them”.

Aiyawatt Srivaddhanaprabha, King Power chief executive and Leicester City vice-chairman, added:  “King Power has always followed and been absolutely committed to the highest standards in proper and ethical business practice.”

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