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

Taxpayers in Thailand who profit from cryptocurrencies will be subject to a 15% capital gains tax this year, according to the Bangkok Post.

Exchanges will be exempt, but not retail investors or mining operators, according to the newspaper, which cited an unidentified person at the Finance Ministry.
The Revenue Department plans to strengthen its surveillance of cryptocurrency trading after the market experienced significant growth in size and value in 2021, according to the report.
According to Section 40 of the Royal Decree amending Revenue Code No.19, the department can consider profits from cryptocurrency trading as taxable income. The report carried a ministry recommendation that investors should identify their income from cryptocurrencies when filing taxes this year to avoid penalties.
A capital gains tax is a tax on the profit realized on the sale of a non-inventory asset.

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Amitoj Singh

Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.

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