snoop1130 Posted January 11, 2022 Share Posted January 11, 2022 BANGKOK (NNT) - Thailand’s Prime Minister has ordered the Revenue Department to provide a clear explanation on the new tax scheme for cryptocurrencies and digital assets, following complaints from investors and public members. Deputy Government Spokesperson Traisuree Taisaranakul said the government has no intentions of blocking new developments in any industries, including the financial tech sector, however, the government needs to exercise caution before supporting any new technology with a small user base, but involving investments from the general public. According to Ms. Traisuree, the government is sharing the same concern that the taxation scheme proposed by the department on gained profits from digital asset transactions lacks clarity, prompting Prime Minister Gen Prayut Chan-o-cha to order the RD and the Ministry of Finance to offer clarification. The deputy government spokesperson added the government has been monitoring the development of digital assets, however, it needs to make an all-around consideration before fully backing this sector, in order to avoid potential damages from a cryptocurrency crisis. -- © Copyright NNT 2022-01-11 - Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. - Follow ASEAN NOW on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
ukrules Posted January 11, 2022 Share Posted January 11, 2022 If they tax it then people will just use another country to do their business in, it's really as simple as that. If you want to kill the industry in Thailand then taxation is the way to go. I note that they're doing something similar with the stock exchange which I also expect to go to <deleted>. Link to comment Share on other sites More sharing options...
MadMac Posted January 12, 2022 Share Posted January 12, 2022 Exactly, Malaysia and Singapore do not have capital gains tax on crypto. Farewell. Link to comment Share on other sites More sharing options...
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