Transcript of the above video: 

As the title of this video suggests, we are discussing the OECD trying to "harmonize" away the benefits of the US-Thai Treaty of Amity? What are we talking about when we talk about the benefits of the US-Thai Treaty of Amity? Well what we are talking about there specifically is as we have discussed in other videos, Americans can gain what is called National Treatment with regard to doing business in Thailand. So basically, they don't have to worry necessarily about the provisions of the Foreign Business Act, they can certify under the Treaty of Amity and gain “National treatment” for the company, i.e. the company will be treated as if it's a Thai national. I've gone into that in many other videos in great length.  

As I've also discussed in other videos, the very nature of The Amity Treaty itself results in this very unique situation with regard to possible American Tax liability in Thailand for an Amity Treaty Company. As I've discussed at great lengths, I view these as domestic non-resident corporations of the United States and in conjunction with our double tax agreement with the Thais, these companies are largely just outside of the remit if you will of American Tax jurisdiction. I've discussed that at length in other videos; I've even written up a brief on such matters. I will put a link to the brief in the description below where this is sort of all laid out and my opinion thereon. 

That being said, what I find interesting about OECD is as we discussed in other videos, the notion that Thailand needs to get “in alignment” with all these other countries with regard to the tax situation in order to join OECD. And as we discussed before, this is a multi-year process; it's not going to happen overnight. As we discussed in a prior video, it takes about 5 years for the process to complete. Not a foregone conclusion that it's going to happen but one thing I was thinking of it and I was wondering, could non-American, non-Thai interests be using this OECD maneuver if you will or this OECD issue, to try to through “alignment” of tax policies, take away the benefits that Americans may enjoy in Thailand when it comes to taxation issues. So through the “alignment” under the OECD, they can effectively sort of mitigate or entirely if you will, sort of dissolve those types of benefits. I don't know the answer to that question if that would ultimately happen but I think it's worth asking especially at this point in time where we are not even into the notion of harmonizing or aligning yet at all, it remains to be a foregone conclusion. I'm kind of hoping at the end of the day cooler heads prevail and realize, you know what, Thailand has done perfectly fine just going it on its own; it doesn't much need to be "aligned" or "harmonized" with much of anybody. 

Meanwhile, the US-Thai relationship is unique, I'd say it's a special relationship but that's almost sort of a euphemism, it's kind of overused at this point, it’s kind of almost a cliché. The US-Thai relationship is unique and the benefits derived from the unique nature of our Treaty relationship accrue to the benefit of both Thais and Americans and might accrue to the envy of others and what worries me is those others who are envious, are going to use the OECD to take away those benefits from both us Americans and us Thais.