Crypto traders in Thailand to pay 15% capital gains tax, media report reveals.
Crypto-related profits, such as those resulting from the trading of digital currencies, will be taxed at a rate of 15%, a finance ministry official has revealed to the local press in Thailand. After last year’s significant market growth, the department intends to improve surveillance of crypto trade in 2022.The Ministry of Finance in Thailand advises investors to indicate their income from crypto holdings when they file their tax declarations this year, the Bangkok Post reported on Thursday.
Profits from cryptocurrency trading are considered assessable income under Section 40 of the Royal Decree amending Revenue Code No. 19, the report explains. In view of the significant expansion of the digital asset market in 2021, financial authorities now plan to improve their oversight over coin trading activities in the country.
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