Thailand Set to Collect Tax on Crypto Profit as Trading Surges

Thailand will start collecting tax on profit made from trading cryptocurrencies and other digital assets as an increasing number of investors pile into these assets, according to the Finance Ministry.

• Investors will need to pay applicable income tax on profits made from digital assets after deducting losses made on trades transacted through recognized platforms, the Revenue Department Director-General Ekniti Nitithanprapas says at a briefing in Bangkok on Friday
• Exchanges and other digital assets platforms may not collect withholding taxes where they can’t identify the end beneficiaries
• Revenue department will propose exempting payment of value-added tax on digital asset transactions done …