Thailand is increasingly intensifying its regulatory stance on crypto and the latest move is a capital gains tax levied on crypto traders in the Kingdom.
Profits from cryptocurrency trading will now be subject to a 15% capital gains tax according to the Thai Finance Ministry.
The ministry advised those involved with cryptocurrencies to accurately report their incomes when filing taxes this year according to a Jan 6 report in the Bangkok Post. It did not specify if this would be applied to unrealized gains.
Thailand crypto taxman commeth
The report added that the new tax would be applicable to investors and mining operators, however, crypto asset exchanges are exempt from such duties. Some of the largest exchanges in Thailand are affiliated with banks and billionaire business moguls.
Thailand’s largest exchange, Bitkub, was acquired by the…
