Thailand to tax overseas income from crypto trading


19 Sep 2023 2:00 PM

Thailand is looking to tax overseas income from 2024. This includes from crypto trading, as per Section 48 of the Revenue Code....

  • Thailand has passed strict laws around cryptocurrency in recent months.
  • A pro-crypto business tycoon was appointed as the Prime Minister of Thailand in August.
  • Thailand is planning to tax overseas income, including from crypto trading, starting from 1 January 2024.
  • The new law targets individuals residing in Thailand who trade in foreign stock markets, cryptocurrency traders, and local citizens with offshore accounts.
  • Thailand has been implementing stricter regulations on cryptocurrency, including prohibiting its usage as a mode of payment and issuing new regulations for crypto custodians.
  • The Thai regulator has also banned crypto exchanges from providing lending services and mandated trading risks disclaimers.
  • The Prime Minister of Thailand, Srettha Thavisin, was previously the CEO of a leading real estate firm and has ties to a crypto-friendly platform.
  • Thailand was ranked tenth in Chainalysis' 2023 Global Crypto Adoption Index.

The sentiment of the article is mostly neutral, providing information about the recent developments and actions taken by Thailand regarding cryptocurrency.

Go to publisher site

You May Ask

What is the effective date of the new law in Thailand that taxes overseas income, including from crypto trading?Who are the individuals targeted by the new law in Thailand?What are some of the stricter regulations implemented by Thailand regarding cryptocurrency?Who is the current Prime Minister of Thailand and what is their background in relation to cryptocurrency?What position did Thailand hold in Chainalysis' 2023 Global Crypto Adoption Index?

Suggested Reads