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Tax and Retirement Visa affects for trading on bx.in

PeCeDe
in Cryptocurrency News

Featured Replies

As usual this has probably been asked before but I can't find an answer, if there is a discussion on this where do I find it? Can I buy and sell on bx.in without affecting my retirement visa, I'll be using my btc bought in from overseas. Secondly what are the Thai tax implications if I make a profit.

You probably cant find an answer because I doubt anyone knows yet. You are not allowed to use BTC on bx  bought in anything other than baht so you would be breaking the rules and leaving yourself open to trouble if they are looking.

  • Author

Glad I asked, thanks for the info. don't need hassles at this stage in my life.

I would use something like Kraken and send the funds to your bank in Thailand in euro's. I dont think you would be breaking any rules then.

  • Author

I don't know much about Kraken, but I'm looking at their site now...

20 hours ago, beammeup said:

You probably cant find an answer because I doubt anyone knows yet. You are not allowed to use BTC on bx  bought in anything other than baht so you would be breaking the rules and leaving yourself open to trouble if they are looking.

could you please clarify your comment as I dont understand. Can you give me an example of what you are saying? ''You are not allowed to use BTC on bx  bought in anything other than baht so you would be breaking the rules''. It doesnt make sense what you are saying. Can I ask how experienced you are and what is your evidence for this comment. Im not having a go at you. I just want to know how accurate your comment is. Im unsure if I agree with you

Op there are no tax implications as its likely not covered in the tax laws here yet. Dont even worry about it. 

  • Author

Thanks Davidst01, I want to trade, but it seems to me I need to know the rules. As you know the devil you don't know can retroactively come back to bite. Ignorance is not a defence.

Selling bitcoins is no different to selling gold or anything else

You don't need a licence or a permit to do so in Thailand and if the law changes, the exchanges will let you know immediately, as they would have to conform with the new laws anyway

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