Crypto withholding tax

[Whale]

It looks like theres going to be a withholding tax applied to crypto for Thai taxpayers and 15% capital gains, in the not too distant future.  15% is not bad I assume it will be only for the honest and those with Thai exchange accounts.

 

The withholding tax could be an issue though if its done at exchange level. That would be very complicated to do though. If its per sell trade it could be dark.

 

Anyone know anymore?

 

[khunphil]

In some Europeans countries, this is already the mess to calculate on profits back in FIAT. So you can imagine if you wanna tax trades, stacking, farming, yielding, and so on ... before getting back the money in FIAT.

Also, you can bring some cryptos from another exchange, get profit or not on it.

This tax calculation will not be easy to do.

Phil.

[Whale]

I see it playing out this way - anyone without Thai TIN will not be allowed an account on a Thai exchange. It will be messy just like immigration and banking for expats, but the fact that we are expats makes a whole world of crypto products easier for us than the average working Thai.