Thailand's Ministry of Finance: The profit of cryptocurrency transactions is subject to 15% capital gains tax

Time:2022-01-05 Source: 796 views Trending Copy share

According to the news on January 6, according to the Thai Ministry of Finance, the profits of cryptocurrency transactions are now subject to a 15% capital gains tax.

According to a report from the Bangkok Post on January 6, the ministry recommends that people involved in cryptocurrency report their income accurately when filing tax returns this year.

It did not specify whether this applies to unrealized gains. The new tax will apply to investors and mining operators, but crypto asset exchanges are exempt from such taxes. Some of Thailand's largest exchanges are owned by banks and billionaire business giants.

It is not clear whether taxes will be levied on annual filings or whether the government will allow exchanges to deduct from the source.

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