Transcript of the above video: 

As the title of this video suggests, we are discussing Amity Certification. For those who are unaware, the United States and Thailand have a very long diplomatic history together, long diplomatic relationship and we have a very long Treaty relationship that goes back for 190 years, the latest iteration being the US-Thai Treaty of Amity. And as we have discussed in other videos, the national treatment sections of that will allow folks, for example Americans, to own their own businesses here in Thailand, American Companies, can be granted so-called "national treatment" to do business here in Thailand as if they were a Thai Company which can be very useful especially in light of the Foreign Business Act. 

That being said, we are taking this from a slightly different angle right now especially in light of Mr. Trump's recent announcements regarding tariffs and the rather abrupt sea change with respect to public revenue in the United States' discussions, and this discussion of the External Revenue Service. There are a lot of things going on, and actually I thought of making this video after reading a recent article from Barron's that's barrons.com, the article is titled: Trump Executive Order Signals He Could Double Taxes on Foreign Citizens and Companies. Quoting directly: "Included in one of President Donald Trump's first executive orders was a reference to an obscure provision of the tax code.." - I love these media people - an obscure provision - what is an "obscure provision" to somebody who writes for Barron's? Are you sitting around in the tax code all day long? They are all obscure provisions as far as you are concerned, okay? It's just the tax code. There's no front street of the tax code, there's no main street of the tax code, there's no backstreet boys of the tax code, there's no alleys of the tax code, there's just the tax code. There are no loopholes, there are no obscure provisions, there is just what it says. Quoting further: "..that calls for doubling the income-tax rates on foreign citizens and companies when their country of origin is subjecting U.S. individuals or corporations to "discriminatory or extraterritorial taxes." Quoting further: "The executive order, issued Jan 20, outlined Trump's "America first trade policy" and included several directives for departments such as Commerce and Treasury to review various aspects of trade with other nations and develop policy recommendations to further U.S. economic interests." Quoting further: "One section called for the Secretaries of Treasury, Commerce, and Homeland Security to explore the feasibility of creating an External Revenue Service to collect tariffs, duties, and other foreign revenue. Another called on the Treasury Secretary to review exchange rates between the U.S. and its major trading partners to identify potential currency manipulation."

Now as the title of this video suggests, we are discussing Amity Certification. Why? Now there is a link in the description below and we have discussed this at length in many other videos, but it is my opinion - and you can read through it yourself - that due to the Amity Treaty, Amity Treaty Corporations are organized under U.S. Law and are therefore considered domestic corporations of the United States albeit domestic non-resident corporations, in light of the Double Tax Treaty between the United States and Thailand and if you read the two of those together as it goes into my brief in the link below, you basically end up with this situation as we have discussed in many other videos, this unique tax situation for American Companies here in Thailand, Amity Certified Companies I should say, here in Thailand. The question being now is with regard to foreign trade tariffs etc. what is the impact of The Amity Treaty on these recent changes that Trump is making? I would posit that there could be substantial benefits by being Treaty Certified possibly in the future by dint of the fact it may be considered a domestic corporation and therefore possibly not subject to any certain aspects or all of many of these changes that Trump may be making. That being said, it remains to be seen how this is going to play out, so we will certainly keep you updated on this channel as the situation evolves.