Transcript of the above video:

As the title of this video suggests, we are asking do we need a rejig of Thailand's taxes? Well in my opinion, NO. Because quite honestly, everything that has happened in this space has been worse for everyone. That said, I thought about making this video after reading a recent article in the Bangkok Post, bangkokpost.com, the article is titled: Tax rejig possible for foreign investment. Quoting directly, and again this whole notion that, 'oh, we need to change things', that's just a foregone conclusion, we all agree on that. No we don't. That's why we have a Parliament. To deliberate this stuff. Not so a bunch of foreigners can come out here and tell us how it's going to be. Quoting directly: "The Finance Ministry is considering amending tax laws on income from foreign investments to lure Thais to repatriate funds and lift domestic investment." Well, why do you need to lure anybody? Unless you have changed around your own regs. and made it not conducive to do business in your own jurisdiction. And by the way, at whose behest? A bunch of foreign tax stamp-pimps? Quoting further: "Speaking at the 33rd anniversary event of One Asset Management yesterday, Finance Minister Pichai Chunhavajira noted Thais earning income from abroad are currently required to pay income tax when bringing these funds into the country." Notice they use the term "earning", "earning" from abroad, okay? By the way, all the nonsense coming from the stamp-pimps out there that bank wires in and of themselves are a taxable event, utilization of a credit card or a debit card is a taxable event, stop talking nonsense. That's the correct verbiage, earning. Was there a taxable event? Did income happen? Did I accrue capital through capital gains? These are the questions to ask, not this simplistic baby-talk from morons who don't know what they're talking about, saying things, "oh, a bank wire in and of itself, now you have to file a tax return. Now you have to get a Tax ID."  You are nonsense. I'm just so tired of this, having to make these videos for people who can't think outside of a Tupperware basket. I don't even know, like I don't, it's very galling to be out here and know the reality and then - what's that line from the poem "If"? "To see the truths you've spoken, be twisted by knaves, to set a trap for fools" and that's all I see in all of this tax talk, all the time, from all of these foreign interlopers who have no business being here in the first place, talking about this stuff at all. Not qualified, completely illegal. They happen to be agents of foreign tax authorities operating on Thai soil, illegally, and everybody is just, oh, oh, oh. 

Again though, note there, "earning" - you have got to get back to that, because there is all this nonsense out there and that's what it comes down to. Was there a taxable event? Quoting further: "Currently required to pay income tax when bringing those funds into the country. He said he is reviewing this law to encourage more Thais to repatriate their earnings." Well they are reviewing this law? I thought the stamp-pimps all told us that this is a foregone conclusion. "He said many Thais invest abroad and when those earnings are repatriated, they are subject to taxation." Well, if they are earnings, and if they haven't paid tax already on them, and if there's not a Double Tax Agreement, there are a million different variables that go into this stuff. 

That said, the point of this video, quite frankly we were ticking along just fine in Thailand up until about the past five years. Then the government came in and shut down all of our businesses unilaterally, without any real reason - and it turns out it was all nonsense perpetrated by a communist at the WHO - and then promulgated throughout the world based on basically erroneously resetting the mechanisms by which we declare a pandemic and then telling us all we had to shut down. It was the most tyrannical thing maybe in the history of time, in many, many ways, okay? That's why revenues are down, because the government in their infinite wisdom told us the people, we can't go to work, so they couldn't tax us. So now that revenue is not in their pipeline. Well boo, hoo for you! You told us we couldn't work, so you're not going to have any money. I thought we were all in this together. It just took you a little longer for it to hit you as hard as it did. Quite honestly, no rejig is necessary here in Thailand. Thailand's laws are fine as far as I'm concerned and I'm really sick and tired of outside influence coming in here and trying to change them.