Thailand Imposes 15% Capital Gains Tax on Cryptocurrency Transactions

Translated by: MOS Education Team – Wintermfall

On January 6th, according to the media sources, a person in the Finance Ministry said that Thailand will impose a 15% capital tax on cryptocurrency trades and cryptocurrency traders were told to prepare for increased surveillance.

The data shows that the market experienced significant growth in size and value since 2021. The Revenue Department plans to strengthen its surveillance of cryptocurrency trading under the Royal Decree amending Revenue Code. The ministry requires investors to identify their income from cryptocurrencies when filing taxes this year to avoid penalties.

According to the anonymous source, all taxpayers who gained from cryptocurrencies, including retail investors and mining operators, will be subject to the tax; however, except cryptocurrency exchanges.

Proofread/posted by: Redd

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