A brief scenario:

A guy owns an internet based company.

The website is hosted in america, he is british and living in Thailand, all funds are collected by PayPal, and there is a good chance that in the future he will do most (if not all) his banking via Singapore or Hongkong.

Where is this business liable for tax?

Before worrying about paying tax, I suggest waiting to see if this internet based company is going to show a profit !

He's applying the CYA rules

Many thanks Boozer for your extremely informative reply. I shall bear that in mind.

What are the CYA rules?

I think you'll find that paypal accounts are held of shore and are tax free, your only subject to 2% commission if you open a business account, i would think if you open an offshore account yourself and transfer funds to that you should get away with it, you would probably be o.k putting funds into a u.s or u.k account as long as it was'nt to much and to often,

How big are the sums your talking,

Dont know if you'd get taxed putting into a thai account, i suppose it depands what visa your on better ask dr p or I.T hope that helped a bit more than p.ps,

i noticed if he dont the answer he makes a wise crack