Transcript of the above video: 

As the title of this video suggests, basically we are discussing tax assessability and liability and issues of bank transfers. So if I haven't made a thumbnail like this, I think we'll make a new thumbnail and call it Banking and Tax in Thailand. But not always but in certain instances, transferring of money depending on the underlying circumstances in a given case can be considered what we would call a taxable event in the tax advisory world if you will. So basically, not always though, just transferring money is not in and of itself a taxable event although you will hear a lot of fakes and frauds out there in the ether of the internet basically claiming it is with their stupid ham-fisted logic. But leaving that aside, it's not necessarily; it depends on the underlying facts in a given case. 

Let me get to a recent article which made me think of making this video from the Pattaya Mail, pattayamail.com. "Those with income from within Thailand, or those financially linked to a commercial enterprises worldwide and transmitting cash here, could be in a different position." Now I quoted a very small excerpt from that article. For those who are interested, I urge you to go check out Pattaya Mail, pattayamail.com for that article. 

Long story short though, and getting into this, yeah, transmission of money through a bank wire is a major factual event when doing analysis on tax assessability and liability. It is not dispositive. It does not in and of itself mean that the transfer itself is a taxable event. A number of underlying factors need to be analyzed, most notably physical presence in Thailand, the nature of the money; is it derived as income? Is it unearned income? Is it some sort of accrual that is not income per se like a royalty or something of that nature? Again those are the data points that you have to go through when doing the analysis on transmitting cash into Thailand, on transmitting funds into Thailand, or whether or not there has been a taxable event. The transmission of funds in and of itself is not a taxable event on its face per se. It might be depending again on the facts of a given case. 

So the point I am trying to make in this video is basically, trying to come up with assessability, first of all you have got to figure out is the money even subject to any scrutiny, any assessability by the Revenue Department? Then the next part of the analysis is, is it then going to be subject to any kind of liability? Do you have to pay anything? There are certain instances where they say, "hey that is assessable." You may have to file a return, or something associated with that money. You may not, again it may not be assessable; it may just be your own money. But that said, the nature of the funds will determine whether or not you can be assessed on it or need to be assessed on it and then further analysis on the nature of the funds will determine whether or not there is liability there. So again broad sort of Pop if you will in the sense "Pop Culture" sort of Pop legal analysis, Pop tax analysis off of YouTube, not going to be very useful to you if you have real money that has been transmitted into Thailand. You need to talk to a Legal Professional who is going to analyze the facts of your case, who is going to ascertain whether or not you are assessable and there is any liability on any funds that you may have already transferred, or you are thinking of transferring. And that is usually the best thing to do is talk to a tax professional before doing anything but again, it's the nature of the whole totality of the circumstances that is going to need to be analyzed before determining whether or not there is going to be any assessability or liability for taxes here in the Kingdom of Thailand.