Transcript of the above video: 

As the title of this video suggests, we are discussing so-called tax harmonization and this notion of a Common Reporting System. I thought of making this video after reading a recent article from the Pattaya Mail, pattayamail.com, the article is titled: Foreigners and their overseas income: what next? Quoting directly: "The optimistic view about the future is that tin registration" (they mean T.I.N - tax identification number) registration will remain voluntary as, in fact, it has always been for Thai citizens. If you think you are liable for tax, then by all means register. If you try to cheat, the newish Common Reporting System - an automatic and International Exchange of the financial information of individuals to combat tax evasion and ensure compliance - will expose your dealings." Yeah I got to say just on, if people kind of want to know my opinion and want a little insight into this, I do understand people get a little frustrated with me because I fully have my lawyer hat on, especially my tax attorney hat on and my comparative law attorney hat on when I am discussing these issues because I am a tax attorney in the United States.

So from a professional standpoint, I may seem a little bit nonchalant about the whole issue. But that said, I'm not a big fan of taxes and this whole notion of "harmonization" which I believe is a term the OECD uses which Thailand is trying to become a part of and this notion of a common recording system and we have to ‘stamp out these tax evaders’. Wow isn't it great when you see a bunch of governments, effectively conspiring with each other around the world to basically bleed their own citizenly dry in terms of taxation. It is pretty disconcerting quite honestly and honestly we are moving forward in some kind of International System wherein this is the standard where there's just constant disclosure between jurisdictions in order to maximize payment basically because God forbid that there be tax evasion which that term is a term of art; it has a specific meaning to it.

But that said, I just don't really like that world; that's a brave new world I'm not overly interested in living in it if you want me to be honest. Again this is kind of more or less an opinion piece. I'm not a fan of this stuff. I have to deal with it and we have to deal with it to assist our clients but again this is not something I am thrilled about. In fact I really kind of prefer the days that Thailand just being out here on her own, doing her own thing and not really worrying about compliance and cross jurisdictional reporting and harmonization. So if you wanted a little bit of insight into my thoughts in this whole tax thing, there you go.