Thailand to Tax Overseas Earnings From Crypto Traders
The new tax policy targets both local and foreign nationals residing in Thailand for over 180 days per year....
- Thailand is implementing new tax rules to tax foreign earnings from crypto traders, closing a loophole that allowed overseas income into the country tax-free.
- The tax rules target Thai residents trading in foreign stock markets, cryptocurrency traders, and both local and foreign nationals residing in Thailand for over 180 days per year.
- The new rule will be effective from January 1, 2024, allowing Thai authorities to tax foreign income in 2025.
- The new tax legislation may deter foreign investors and private bankers who perceive the regulatory environment in Thailand as uncertain.
- It is also suggested that the policy may worsen income inequality in Thailand, which already has the highest income inequality rate in the East Asia and Pacific region.
The sentiment in the article is mostly negative. The implementation of new tax rules is seen as potentially deterring foreign investors and complicating business performance. It is also suggested that the policy may worsen income inequality in Thailand.