Transcript of the above video: 

In the past few days, we've been talking about a lot of things. Unfortunately the ether of the internet is filled with all sorts of talk of tax, changes to tax etc. I just wanted to do a brief video here where I talk about okay let's presume some worst-case scenarios and yeah, we have to start filing tax. Again, this is a presumption; this is not a foregone conclusion. As I've discussed in other videos, it has been talked about in certain outlets as if this is happening for sure. I don't think it's safe to presume that; I think that there are many hurdles that need to happen before these major changes could be promulgated and I don't think it's a foregone conclusion it will happen. I think it could have dramatically negative implications for certain aspects of foreign direct investment to say nothing of the vibrant tourism and expat community here in Thailand which brings in a great deal of foreign reserve. Again, bureaucrats just have blinders on. They can't see beyond their little bureaucrat desk and they don't know how the real world works generally speaking, and they don't know that there are knock-on effects to major policy shifts like that. 

That being said, what could be the worst-case scenario? Well, you could have a situation in the future where not only are they checking bank accounts, but they are also now going to be checking tax returns, if in the future they do start requiring tax returns or copies of tax return filings to be submitted in association with extension of status here in the Kingdom. That being said, again I reiterate, this is not a foregone conclusion and until such time as I see something that is actually promulgated law with respect to this, I'm going to continue operating under the currently operating system that has been going for some nearly 2 decades I have been here in Thailand. 

One thing I would urge, anybody watching these videos, please calm down, if you're getting very upset. I was talking to Mr. Kenyon, Barry Kenyon down there at the Pattaya Mail over this past weekend - which hats off to him - and it was a very pleasant discussion we had. One thing we sort of both agreed on is the best thing that folks can do in his position, my position, is reiterate when something is simply a proposal and when something is actually now black letter law. As of the time of this video, it is my understanding that there are no major changes that have occurred with regard to the tax system in Thailand and whether or not that occurs remains to be seen. So to treat it as a foregone conclusion is a bit premature as of the time of this video.