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Policy

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

The report quotes a person in the Finance Ministry who also said cryptocurrency traders should prepare for increased surveillance.

By Amitoj Singh
AccessTimeIconJan 6, 2022 at 10:33 a.m. UTC
Updated May 11, 2023 at 6:19 p.m. UTC
Bangkok, Thailand
Bangkok, Thailand
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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.

See also: The UK’s Tax Collector Is Sending Crypto Investors ‘Nudge’ Letters: Report






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Amitoj Singh
Amitoj Singh

Amitoj Singh is a CoinDesk reporter.

Follow @amitoj on Twitter

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