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ResourcesCorporate and Tax AdvisoryThailand Tax Law"Taxable Events" Are the Name of the Game in Thailand?

"Taxable Events" Are the Name of the Game in Thailand?

Transcript of the above video: 

Yet again we are talking about tax on here and there's again a ton of weird speculation and hyperbole sort of floating around the ether of ‘expatdom’ out here as well as on the internet. This whole notion that bank wires in and of themselves, constitute the need that you have to file a tax return in Thailand or get a Tax ID. 

Again, as I have discussed in other videos, it may or may not, but the bank wire itself per se, in and of itself is not a taxable event. You might be wiring your own money to yourself, okay?  The name of the game when doing tax analysis is at the end of the day it's “taxable events”. Now another aspect of this is - which I get into another videos - is there's a ton of interpretive dance and then on top of it a ton of, what I can only describe as counterintelligence propaganda or COINTELPRO, or just propaganda specifically being espoused by a bunch of illegal interloping, what I can only describe as tax stamp-pimps, who are coming illegally, again agents of the IRS, illegally operating here in Thailand notwithstanding the provisions of the restricted occupations here and making all sorts of analysis and conclusions that, oh you need to file for taxes or you need a tax ID or you need this, that and the other thing, without even looking, or analyzing specific circumstances, basically specific facts in underlying cases, because why do you need to analyze that? To figure out if a taxable event happened in the first place. That's why you need to analyze that; that's why you need to talk to somebody first, rather than listen to somebody who just tells you you have got to go do this stuff and who by the way has a financial incentive to do so because whether you owe tax or not, you are going to end up paying them. That's the fundamental problem with all of this and that's why taxable events are so important in the analysis.

So that's the thing to take away from this video. It's not, "oh you did a bank wire, therefore you have to go do this", "oh you used a credit card, therefore now you have got to file."  No, you need to determine whether a taxable event occurred and therefore you need a tax ID and therefore you may need to file tax returns, because if it didn't, then all of this analysis is worthless because you don't need to necessarily do anything.