Thailand waives 7% VAT on crypto trades and confirms 15% cap gains tax

posted 4 months ago
Thailand has begun regulating crypto. Thailand's Revenue Department will waive the value-added tax (VAT) for people trading in cryptocurrencies on exchange markets approved by the Securities and Exchange Commission (SEC).

A new law governing cryptocurrency transactions came into force on May 14th. Saroch Thongpracum, the department’s director of legal affairs, said on Tuesday it would issue a regulation waiving the 7-per cent VAT for individual investors to reduce their tax burden.

Individuals will still have to pay a 15-per-cent capital gains tax, also known as a withholding tax, on income earned in a transaction.
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