Thailand's Revenue Department is currently working on a law to collect 15% capital gains tax from growing cryptocurrencies trading.
Cryptocurrencies are considered assessable income based on Section 40 of the Royal Decree amending Revenue Code No.19.
At a glance, any activities such as trading, mining, investment with cryptocurrencies are subject to 15% of withholding tax.
The Revenue Department will deploy a data analytics system to examine tax payments from cryptocurrency trading to implement the law.
If the department finds any irregularity, the authority will summon the related parties to provide information.
Tax Payers Advised
The Finance Ministry advised taxpayers to disclose income from cryptocurrencies while filing their income tax returns this year. ...
