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Thursday, May 19, 2022

Thailand to soon provide guidelines for improved crypto tax

Thailand to soon provide guidelines for improved crypto tax

Thailand expects to decide on more guidelines soon for a cryptocurrency tax that was introduced in 2018, in an effort to make it fairer and more simple, the finance minister said on Wednesday, following a surge in digital asset trading.
The government has supported utilising digital assets to help build the economy without affecting the country's financial stability, Finance Minister Arkhom Termpittayapaisith told a business seminar.

On Tuesday, Thailand said it would not allow use of digital assets as a means of payment due to risks.

Cryptocurrencies have gained momentum in Thailand, which saw as much as 251 billion baht ($7.62 billion) in digital asset trading transactions in November, data from the Securities and Exchange Commission showed.

($1 = 32.93 baht)
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