Thailand’s Crypto Traders to Be Subject to 15% Capital Gains Tax: Report

Taxpayers successful Thailand who nett from cryptocurrencies volition beryllium taxable to a 15% superior gains tax this year, according to the Bangkok Post.

• Exchanges volition beryllium exempt, but not retail investors oregon mining operators, according to the newspaper, which cited an unidentified idiosyncratic astatine the Finance Ministry.

• The Revenue Department plans to fortify its surveillance of cryptocurrency trading aft the marketplace experienced important maturation successful size and worth successful 2021, according to the report.

• According to Section 40 of the Royal Decree amending Revenue Code No.19, the section tin see profits from cryptocurrency trading arsenic taxable income. The study carried a ministry proposal that investors should place their income from cryptocurrencies erstwhile filing taxes this twelvemonth to debar penalties.

• A superior gains taxation is simply a taxation connected the nett realized connected the merchantability of a non-inventory asset.