Crypto investors and miners will be under the tax net while digital exchanges are likely out of it, claims a new report.
The regulatory and surveillance environment is likely to become more stringent for crypto traders in Thailand.from the Bangkok Post, crypto profits will attract a 15% capital gains tax from the current year. The initiative will be applicable to digital asset investors and miners but will exclude exchanges. The capital gains tax is levied on the profits made by selling a non-inventory asset.
The coverage, based on information provided by an unidentified Finance Ministry official, claimed that the Revenue Department had taken note of the significant growth of the crypto market, both in size and value, in 2021 and intends to strengthen its surveillance.However, there is no clarity on how the taxes will be assessed and paid. Industry analysts think there are two options.
“As an exchange provider, Zipmex has been developing a system to help our customers calculate profits and losses, but it’s challenging,” he commented.on the rapid growth of the crypto space to boost its revival, the government and the central bank have maintained a rigid posture, marked by crackdowns.
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