Transcript of the above video: 

As the title of this video suggests, we are discussing Thai Tax Policy, possible changes in the future, and how it might impact foreigners here in Thailand. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: A closer inspection of negative income tax. 

Now I did another other video, it is pretty long, on this topic because I've got serious issues with the Negative Income Tax in and of itself and the possibility that the newly installed Government may actually impose this Negative Income Tax; I would also call it Universal Basic Income, whatever, it's handouts, it's the dole, it's how Communism begins basically or more specifically Totalitarianism is probably the more correct word. That said, for those interested in that, go check out my video on that specifically. I'm going to talk about something that's going to go on a little bit of a tangent from the main part of this article. 

That said, quoting directly: "According to Revenue Department Law, individuals earning 60,000 Baht or more per year are required to file tax forms, even if they have no tax liability. In practice, many people do not file taxes despite meeting the legal income threshold. If the NIT System" -  that's the Negative Income Tax System that has been discussed by those in and around this new Government - "If the NIT system were to be implemented in Thailand, the tax filing requirements under Section 56 of the Revenue Code require amendment. The amendment should state that anyone earning even one baht must file a tax form, ensuring that everyone enters the tax system, while granting the Revenue Department the legal authority to verify individuals' income." Now I note that it doesn't say in either of those excerpts that we are talking about Thai Nationals specifically; it says anyone earning even one Baht. Now one Baht where? Here in Thailand? Well if you are Tax Resident in Thailand, as we have discussed in other videos, that could definitely pull you into tax at least assessability, possibly liability, again depending on your circumstances. But long story short, if we saw one of these Negative Income Tax Systems, again Universal Basic Income, whatever you want to call it, basically hair-brained schemes to bring in more totalitarianism, more surveillance of people's financial situation etc., at the end of the day I could definitely see a scenario where everyone now has to file a tax return or tax returns become part of every foreigner who's here – retired, whatever - it could become part of their day-to-day or year-to-year lives.

As we have discussed, what happens in that scenario if the law is amended? At that point, does every person who wants to get a Retirement Visa Extension need to file a tax return? Or in the future, a Destination Thailand Visa Extension or even Marriage Visa extensions, maybe even an Education Visa extension. Would all Visa extensions then require tax return filing? Again we don't know. This remains simply a proposal but based on these data points, if the law were to change in that way, I would see in my opinion, it becomes a very likely possibility that yes in fact, everyone foreigner or otherwise, would have to in the end file a tax return here in the Kingdom of Thailand.