Thailand is a country in Southeast Asia with an area of 513,000 kilometers and a population of 68 million. Thailand has an emerging economy and is currently going through industrialization. However, Thailand is one of the major economies in Southeast Asia — second after Indonesia in terms of GDP. Thailand’s economy is based on computer components, the automotive industry, petroleum and agriculture. Bitcoin is legal in Thailand, though Thailand’s cryptocurrency exchanges and financial institutions are under some regulations. Thailand’s Bitcoin exchanges can only exchange digital currencies for Thai baht and need a Business Development Department license to perform such operations. Initial Coin Offerings are totally legal in Thailand and the SEC of Thailand even encouraged the funding of businesses with ICOs, but all those operations should be performed with the execution of all regulatory requirements.
Thai ruling party MP calls for due diligence from Excise Department to study the crypto market carefully before imposing any tax.
Crypto taxation could deter investors, says Thai ruling party MP
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The Thai Revenue Department is looking to impose a 15% capital gains tax on crypto trading.
Former Thai SEC chief lays out three critical issues with crypto taxations
The Thai revenue department will expedite tax criteria as traders and businesses seek further clarity.
Thailand government to clear up crypto tax confusion
While Thai crypto investors and miners are required to pay the tax in 2022, exchanges are reportedly exempt from the new duty.
Crypto trades in Thailand now reportedly subject to 15% capital gains tax
Thailand is among the countries capitalizing on China’s crypto crackdown, with retail investors increasingly mining crypto.
Crypto mining reportedly rises in Thailand due to Chinese crypto ban