Transcript of the above video:

As the title of this video suggests we are discussing Tax Matters in Thailand. I have discussed this at length in other videos; I have actually made videos on this specific topic in the past. Unfortunately, there are a lot of foreign nationals here in Thailand who are completely operating inappropriately in light of the restricted occupations in Thailand. Any foreign national claiming to be able to provide tax or tax assistance regarding Thai Tax matters, is operating illegally. I'll put the link to the Department of Employment website with the restricted occupations on there. It's clear: it is accounting, it is law. No, foreign nationals aren't allowed to engage in that. So anytime you are listening to a foreigner talking about Thai taxes, the first thing you have to ask is are they Thai? If they are not, you are listening to somebody who is already operating criminally, so maybe take their "advice" with a grain of salt. Then on top of that, a lot of these folks are just completely giving out erroneous advice. 

One thing that we have seen here in the office, and I have discussed this with my Thai colleagues as well, I am an American Tax Attorney; I am a Thai national. Again I have a Juris Doctorate and all this good stuff, so yeah, I have some insight into the law, and I am Thai, so I'm not restricted from discussing these matters in any sort of legal capacity.

That being said, there has been a lot of discussion about ATM and credit card usage, and they have got folks scared to death that merely using a credit card in Thailand is somehow going to mean that they are going to have to file all sorts of tax returns and things. Again, it depends on the circumstances, but where we are talking about foreign ATM or debit cards or foreign credit cards being used in Thailand, I don't see where a taxable event has occurred, just by dint of the usage. Now again, we have discussed in other videos, there are issues involving tax residency - you have to get into the underlying facts of whether or not somebody is considered tax resident in Thailand - and then you have to get into the issue of whether or not something is income. Well utilizing a credit card is basically a loan, but the loan is occurring entirely offshore notwithstanding the fact you may be benefiting by it here in Thailand. The other thing to think about with regard to ATMs or usage of a debit card is that you are actually pulling money out of your home bank through a network that they are involved in with other banks that then results in you getting your money here. Again, you are basically the third-party beneficiary of transactions that are occurring offshore. I don't see where there's any taxable event associated with any of that. And again getting into the overall analysis is, again it is going to be driven by specific facts in underlying cases, but where we are talking about foreigners just in Thailand using a credit card or a debit card, that in and of itself is not necessarily, in fact is not a taxable event; that act in and of itself. Again, other factors may come into play which may result in some different conclusions being drawn in specific cases.

But one thing that I have seen throughout the internet, and I've been talking to folks that have been coming to us for consultations etc., and they have a huge misconception regarding what constitutes a taxable event, mostly because these foreign charlatans are trying to scare up business; they are trying to scare people into thinking that they may need to file a return in order to just scare up the business to do it. I have a real problem with that; I have discussed it at length other videos and look as I have said, to you foreigners out there who are operating illegally, I have said it before, I have got a real problem with it and I've got no problem dealing with it; I consider it a civic duty. Stop. It's one thing to be advising folks about some foreign tax regime, be it the US, the UK, Canada, Australia, wherever else, if you have the credential to do that. Now again, getting into whether or not that's allowed in Thailand under the Restricted Occupations generally, that's a different analysis, but again providing advice regarding something you're actually qualified to do, fair enough. Thai taxes, again notwithstanding the restricted occupations, if you're not a Thai lawyer or a Thai tax expert, and on top of that you are not a Thai national, you're not entitled to be sitting around dispensing advice regarding Thai taxes. Stop it, because it is leading to bad outcomes for everyone.