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.

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