Transcript of the above video:

As the title of this video suggests, we are discussing Thai tax rules. Specifically we are discussing it the context of Thai companies. Now I am going to talk about this not from the standpoint of like a major corporation, I am more talking about this from the standpoint of small businesses, people looking to come to Thailand to set up a small business or even so-called, I won't say Digital Nomads, but the sort of younger generation of people that can quite honestly make their money online and just wish to either live in Thailand or sort of live in the Southeast Asia region. That is specifically who I am talking to with regard to this video. 

There has been a lot of talk recently about an announcement from the Thai Revenue Department talking about pulling in overseas money and the tax implications of that. They have effectively nullified the old methodology wherein folks could kind of defer bringing money into Thailand and thereby mitigate Thai Tax liability through the deferral by waiting effectively for a calendar year before bringing their money into the country, presumably earned income. I am going to come at this from the standpoint of earned income because again this whole thing is still in a state of flux. There is a great deal of opacity here; we are not quite sure exactly where this is going to sort of settle out, shake out. The Thai lawyers here in the office that deal with tax matters as well as our accountants, they have been talking about it, we have a pretty good idea. For the vast majority of folks this isn't going to affect anybody. I have done videos on retirees; they don't overly we need to worry about it although there probably is a subset of individuals that may have issues with regard to it. 

That said, those who are looking to come over to Thailand and just live and work here via their own small company, their own small business, again I actually think if anything based on our reading of how this sort of all works together, those type of folks maybe in an optimal position. Again it depends on, we are expecting to see a more fleshed out set of rules regarding this in the forthcoming months preferably before January 1, 2024 or I should say hopefully before January 1, 2024. That said, I think it is safe to say at this point, again first most small businesses this isn't even bother them, even foreign own ones. Meanwhile there actually maybe some optimized benefits especially for Americans in setting up a company here in Thailand notwithstanding these new Thai tax rules.