Transcript of the above video: 

As the title of this video suggests, we are discussing, well we're discussing taxable events, credit events, all kinds of things. I thought of making this video after reading a recent comment on our channel. Quoting directly: "Credit means loan, so you do not pay taxes because a credit card gives you a loan."

We were talking in a prior video about whether or not using a credit card in Thailand results in you have to pay tax in Thailand. My opinion no, it does not, and as discussed in that video, I don't see where a credit event in terms of usage of a credit card creates a taxable event whereby jurisdiction is applied, whereby they can tax you, but whatever. I don't see that but, well some people seem to see it; I think it is a spurious set of logic. But again, first of all, I have discussed this in a video I made contemporaneously with this one. I know there are a lot of people operating in good faith, okay. I'm not calling everybody that talks about this in comments and troll, it's not my purpose. But look, you are talking oftentimes about very nuanced subject matter; you are also talking a lot of times about things that it's going to differ from fact pattern to fact pattern within given cases. But that said, the sentiment of the comment is not far off. A loan is not per se a taxable event.

Now in the comment it sort of stated unequivocally, "oh, loans can't be taxed." No that's not the case. It depends on how the loan is concluded. For example, a no interest loan, yeah it's a no harm no foul, nothing occurred, there is nothing to tax. Now loans that are paid back with interest on the person who loaned the money, yeah, the interest that comes back to them they have got to pay tax on that. 

The point I am trying to make though for this video and the point I was trying to make in the credit card video, is usage of a credit card or simply the happenstance if you will of a credit event of one person giving a loan to another for whatever reason, may not in and of itself be a taxable event.