Transcript of the above video:

As the title of this video suggests, we are discussing tax on International transactions inbound to Thailand. So what are we talking about here? Apparently there has been a rumour going around that Thailand is going to start taxing all inbound transactions; this is like Bank wires, things of this nature coming into Thailand. Let's go ahead and preface this by saying I see no evidence for this and quite honestly I think doing that would be a monumental task which would massively undermine the Thai economy on many, many levels and I think it's highly unlikely this will happen. 

I thought of making this video after reading a recent article from the Pattaya Mail, that is pattatamail.com, the article is titled: Thai Revenue releases personal income tax data. A lot in that article, I would urge those who are watching this video, go read that article. Yet again there's, you need to be careful out there and this is across the board; I am not just picking on Pattaya Mail. The media needs to stop making conclusions regarding how tax is going to ultimately be assessed and how it is going to work. I don't want to sound like a broken record but it is going to be accessible on a case by case basis and actual liability is going to occur on this case by case basis, so sitting around reading all these things and then thinking that because one person says one thing in one context that means that is how it applies to you, that is a very bad way to look at this in my opinion. 

That said, I am going to quote a small excerpt here, quoting directly: "Contrary to numerous inaccurate reports on the internet, International cast transfers to Thailand are not taxed on arrival." Yeah again, going back to the preface of this video, I have seen no evidence for that and quite honestly yeah I guess in theory and I am sure there are going to be people out there "well they could do it!" Yeah you know what? A lot of things could happen okay? But at the end of the day I don't even know how many transactions are coming into and going out of Thailand on any given day. I have to imagine it's at least hundreds, in fact I have to presume it is probably thousands and when you consider there are all kinds of micro-transactions and all kinds of things going through the system, again trying to tax all inbound monies to Thailand, I don't even know how you would go about doing that, again anything is possible. Then meanwhile, honestly the rest of the world would look at the economy here and say "well we don't want to do business there because that is something akin to the old Soviet system" or something. 

So again this is not something to particularly worry about and again these kind of rumours are exactly why I get so passionate about the fact that lay people just need to be quiet about all this stuff and stop throwing all of these, basically conjectures, out on the internet which are completely unfounded because it causes people to panic over things that aren't even an issue. This whole accessibility thing, I have said from the get-go, yes it is an issue; it's a major change within the regulatory structure of the Revenue Department here in Thailand but is the sky falling tomorrow? No so again this is why I have been pretty passionate about "Hey, stay in your lane. If you don't actually know anything about tax, maybe just don't comment on it!"