Transcript of the above video:

As the title of this video suggests, we are discussing LTR Visas and we are specifically discussing this in the context of Tax. I did a video in the past where I asked what's the authority for LTR Visas, talking about that there is a sort of a different tax regime associated with it. I believe 17% is the rate that LTR Visa holders have to deal with. More to the point though, especially in the context of the present discussions with regard to tax in both a Thai context as well as an American or an International context, is these changes, this sort of Global Tax regime that these apparatchiks in their infinite wisdom think is a good idea, but the point I am trying to make with this video is the LTR Visa has this component of it where you essentially submit to Thailand's tax jurisdiction under certain terms. After sort of reviewing the underlying, really the raw law in all this, raw regulation I should say regarding this, in my opinion you are submitting to Thai tax jurisdiction as part of if you will, getting this LTR Visa. Well I am a Tax Attorney in the United States, again I never claimed to be a Thai Attorney but we do handle Tax matters in an American context especially. We also have a tax division that deals with Thai Tax matters primarily our Thai Accountants handle that, although some of our Thai Tax lawyers here in the office will sort of get involved with that from time to time if there is sort of a legal question pertaining to tax. 

That said, my basic stance when I am ever dealing with a tax matter is why cede the ground, why cede jurisdiction; essentially why submit to saying "yeah I owe you tax." That question is a legal question. Assessable liability is a legal question; whether or not one is in fact liable and one can be in fact taxed, well that is half the game from a tax lawyer's perspective, trying to determine whether or not a given client is even liable for taxes so to submit as you would call it in sort of a trial lawyer context, to stipulate to liability, why would you do that? I don't see that that is a great idea regardless of the percentage. Now again, different cases are going to be different; there may be some people that find that to be very beneficial to them, I can see that. But I think a lot of folks out there fail to recognize a) what they are sort of submitting to and b) fail to recognize, well not submitting to that is basically a right and it is a right that if somebody is going to abrogate that right, if some body, I literally mean that as two words, some body, if somebody, tribunal out there whatever, adjudicatory functionaire is going to attribute liability, well they have got to show cause, there has got to be some level of due process before liability can attach. To just willingly stipulate to that liability, I think in a lot of cases is going to be disadvantages to the person in question and they may not even actually owe anything to begin with. That is the point is they may not be actually liable so to submit to liability doesn't necessarily seem like it is the best course of action to my mind.

So this is one of the reasons why again, I have done other videos where this came out as a Residency Visa - it's not, it does not confer Thai Lawful Permanent Residence, it is basically just like kind of a really long type of Visa; it is issued in 5 year increments. But more to the point with regard to tax, I think in a lot of folks' individual cases, you are probably going to see a situation where not necessarily submitting to full jurisdiction in terms of tax may be the better course of action.