Transcript of the above video:

As the title of this video suggests, we are discussing what appears to be a newly introduced tax waiver here in Thailand or one that is being brought online. I thought of making this video after reading a recent article from MSN.COM, that is msn.com, but it comes from Reuters. The article is titled: Thailand offers tax waiver to attract 'world-class events'. Quoting directly: "Thailand on Thursday announced a tax waiver for organizers of large International concerts, sporting events and festivals to try to attract big events and position itself as a regional tourism hub." Quoting further: "The Board of Investment will grant organizers of large international events requiring an investment of at least 100 million baht (US$2.74 million), an import duty exemption on equipment and facilitate the temporary entry of required foreign staff, it said in a statement." There is further information in that article; I urge those who are watching this video, go check out that article in detail if you want more insight into what is going on there. 

As we have discussed in other videos, there have been major overhauls to Thailand's taxation system that we are currently actually undergoing. The whole thing is in something of a state of flux right now. I know that is causing a great deal of consternation to the foreign community especially as they are not fully understanding what the assessability and liability may be like regarding taxes here in Thailand. As I have discussed in many other videos, 80% I would argue of people this isn't going to have any impact upon them whatsoever. The old rules had no impact upon them and the changes with regard to the rescission of certain memoranda associated with the timing of remittances into Thailand versus the time funds are required. Again in the past, most folks were completely unaware of these things that there even was a rule on that and how the timing worked on that. I think most of those folks that were unaware of that are still going to basically be effectively unimpacted moving forward. 

That said, as I have discussed in other videos, yeah we could see tax filings becoming a component of Thai Visa renewal for example; I mean tax documentation is a component of US Immigration so it stands to reason we could see that as part of the Thai Immigration process in the future. I am not saying that is a foregone conclusion but you never know. That said, there are waivers that are being brought about for specific purposes especially for sort of encouraging further business here in Thailand. 

Those who are looking to do business in Thailand and wish to avail themselves of full tax benefits or tax concessions, tax holidays if you will, it would probably be a good idea to contact a legal professional, gain some insight and guidance into how best to proceed.