Transcript of the above video:

As the title of this video suggests, we are discussing the recently announced change to rules which will begin January 1, 2024 regarding the deferral of money brought into Thailand and the usage of that deferral from a timing standpoint to mitigate Thai Tax Liability. 

As we discussed in a prior video, many prior videos now, there has been a rule change that has been announced from Thai Revenue Department which will be effective January 1 of 2024 stating that money brought in, even though it's brought in the past, if you waited a calendar year, if you waited until the next calendar year I guess you could say to bring in money made in another given calendar year, you could mitigate the tax liability associated with it; Thai tax authorities would not even try presumably to assess Thai Tax Liability against that. That is apparently changing, again beginning in January 1, 2024. 

We have discussed taxes, specifically American tax liability in the context of the Thai Amity Treaty in the past. I don't think that this changes my analysis with regard to the Amity Treaty and how it impacts American Tax Liability per se; I don't think it has anything to do with that. Now does it really change anything with regard to operating one's Amity Company here in Thailand? At this early stage of the game based on the analysis that we have done thus far on the announcement made and we do anticipate further clarification on this in the form of further promulgated regulations in the future. That said without having that at hand at the moment, it looks to me like for the vast majority of folks who are looking to do business or are doing business here in the Kingdom of Thailand utilizing a corporate structure which is certified pursuant to the US-Thai Treaty of Amity, and for those who are unaware, the US-Thai Treaty of Amity does grant Americans the ability to own their businesses virtually 100% in the Kingdom pursuant to the provisions of the Treaty which stipulate that American companies doing business in Thailand shall receive so-called national treatment. First of all this tax rule changes nothing regarding the national treatment aspect so Amity Companies can continue to operate as they have in the past with regard to that. 

Now regarding tax liability, I think that it is highly unlikely that the vast majority of small businesses operating here in the Kingdom of Thailand under or certified under the US-Thai Treaty of Amity are going to be impacted by this in any way. Now that being said, I am not saying every company, so everybody's situation is different and tax liability or accessible tax liability is going to differ from person to person, company to company based on circumstances and underlying facts. But the thing to take away from this video for the time being at least is based on our initial brief analysis thus far of what we know of this whole thing, it does not look like it's going to be overly detrimental to those doing business here in the Kingdom of Thailand utilizing an Amity Treaty Corporation.