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Thai Government Plans to Tax on Crypto Transactions 泰國政府計劃對加密交易徵稅

Thai government published Emergency Decree on Digital Asset Businesses B.E. 2561 (2018)​ and amended Thai Revenue Code at the same time, considering income and profit from digital assets is categorized as assessable income, and is subject to 15% withholding tax.[1]In January 2022, Prime Minister Prayuth Chan-Ocha’s government was expected to decide on the method and details on how to have tax gains from trading digital assets including cryptocurrencies. Based on Section 40(4) (Chor) from the aforementioned Emergency Decree on Digital Asset Businesses, this new tax policy will come into force starting from March 2022 onwards.


Due to the economic recession caused by COVID-19, Thai government is seeking new sources of revenue to relieve the burden and to use it as a measure to stimulate the economy and to reduce dependence on foreign debt. In addition, number of investors trading on stocks and digital assets has been increased during COVID-19 for chasing higher returns based on the law interest rate, making government think of this new tax avenues.


Based on the manual published by Thai revenue department, the new rule will allow traders to offset the annual losses with capital gain made in the same year. We will keep you posted if there is any update.


[1] Section 40 of the Royal Decree amending Revenue Code No.19.

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