Transcript of the above video: 

As the title of this video suggests, we are discussing cryptocurrencies and how it interacts with tax regulation here in the Kingdom of Thailand. I thought of making this video after reading a recent article from the Pattaya Mail, that is pattayamail.com, the article is titled: Thai lawyer downplays expat visa awards versus personal taxation worries. Quoting directly: "One of the biggest loopholes in tax collection is cryptocurrency which can lead to investment fraud, mule accounts and money laundering. For example, traders change currency to stable coins, then quickly transfer that to a digital asset exchange outside the country and finally change it to cash again. "The point here is that these crimes are rarely, if ever, connected to retirees living out their later lives here. But they consume a great deal of revenue and police time."

So the point that they are trying to make here is like look, there is always a cost-benefit analysis that any Revenue Department, be it the Internal Revenue Service of the United States, the Inland Revenue Service in the UK, over here the Revenue Department (TRD), any of them are going to do a cost-benefit analysis of what is worth their time and effort in terms of determining whether or not to pursue someone for tax basically evasion. Now that's not to say that “oh if it's just a little you can always get away with it”. Look, the fact of the matter is their tracking technology is getting really good to the point of being Orwellian levels of eerie in the fact that they really can track and trace basically every transaction in the banking system now. And as a result of this, look the tax regime is going to become very cumbersome - cumbersome is the wrong word - but it will be thorough let's say, and by 2030, I expect it will be very thorough. We're still kind of going through the grey area phase where it's still kind of being phased in and we haven't actually seen just how thorough they can be but that said, it's getting better. And the thing to take away from this video and understand is look, yeah there are all kinds of ways to mess around with the crypto system but at the end of the day, if you are found to be in some kind of evasion here in Thailand, or found to have any kind of tax liability and you fail to go ahead and pay off that tax liability, it could lead to a situation wherein you are going to find yourself in real problems, where you are paying even more than what you would have paid under the circumstances, if you would have just ponied it up at the beginning and dealt with it at the time you needed to deal with it. If you sort of let it sort of metastasize it could become more of a problem later. 

That said, the Revenue Department itself is saying well it is pretty tough to track this stuff; I am not advocating relying on non-enforcement. At the same time, clearly cryptocurrency makes things complex in terms of analysis of accessibility, liability and possible enforcement of tax regulations here in the Kingdom of Thailand.