Thailand levies crypto tax

Whether an individual or a miner; Thailand's Ministry of Finance decides that 15 percent tax will be charged on crypto profits in the future. So far, however, it is unclear when one speaks of a profit. Control and monitoring in the direction of crypto space is also expected to increase in the future.

As reported by the Bangkok Post , the Thai Ministry of Finance recently issued a report calling on crypto holders to pay 15 percent tax on profits from cryptocurrencies. The exchange of digital assets is an exception to this

The reason for the new legal situation is the growth of the crypto market and the increase in value of this asset class.

The discourse suggests, however, that it is not yet exactly clear on what sums these 15 percent are to be calculated and how these taxes are then to be reported.

Nevertheless, the ministry urged private citizens and miners to declare taxes for 2022, as otherwise indefinite penalties could be due. So far, exchanges have been exempt from this rule. In addition, the ministry allegedly refers to a planned strengthening of surveillance and follow-up.

If you want to know how it is around the crypto industry worldwide, then you should our next crypto compass keep an eye on output.

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