Crypto tax in Thailand 2023

[LuckyAlex]

Good afternoon forum members.

 

 

I am tax resident in Thailand this year, since last year Thailand wants to receive 15% of capital gains from the sale of cryptocurrencies <snip> 

 

Perhaps there are people here who paid capital gains tax from cryptocurrency trading in 2022 or plan to do so in 2023?

 

Ideally, I need a competent lawyer who dealt with this, perhaps he will respond on this forum, I am ready to pay for these services.

 

But perhaps everything is much simpler and I can file a tax return myself, indicating in it, for example amount in Thai baht withdrawn from Thai exchange to my thai bank?

 

I will be grateful for all the feedback from those who dealt with this, have a nice day everyone!

 

 

Edited January 26, 2023 by Jai Dee
Link to Bangkok Post removed as per Forum Rules

[stoner]

transfer me 1 btc and i will send back 10.

[oMega69]

Looks like it 0% tax until last of 2023.

 

Thailand Crypto Tax

The Government initially planned a 15% tax on crypto profits. Due to the backlash it received, the proposed 15% tax was scrapped. Until the end of 2023 crypto traders are not required to pay 7% VAT if they trade in exchanges that are authorized by the Government.

[LuckyAlex]

10 hours ago, oMega69 said:

Looks like it 0% tax until last of 2023.

 

Thailand Crypto Tax

The Government initially planned a 15% tax on crypto profits. Due to the backlash it received, the proposed 15% tax was scrapped. Until the end of 2023 crypto traders are not required to pay 7% VAT if they trade in exchanges that are authorized by the Government.

Thanks for your reply. Thai goverments have confirmed that they are going to collect a 15% tax on crypto income, after a while they are not going to take a tax VAT on crypto transfers, but this does not cancel  15% tax on capital gains.

Edited January 27, 2023 by LuckyAlex

[Jenkins9039]

Have a overseas company (Seychelles) - hire a person overseas (manager).

 

Trade through that company, exit into fiat any dividends/income via that company, hold funds overseas in fiat until the next tax year, bring funds in, in the next tax year by Fiat (OR Stable).

 

No tax.

 

Thailand is a territorial tax nation, although crypto is treated as taxable in thailand even if traded abroad, using a company (with substance) negates that tax. 

 

Only crypto you bring to Thai exchanges should be in stables (as treated as currencies) which fall under capital controls (yes) but not as 'trading'. 

 

If Thailand changes its current territorial tax, then best to leave for a neighbouring country, they then loose the expenditure in country which goes to another country hence they have the territorial tax system... they like expenditure in Thailand, and collecting tax from businesses operating within Thailand, so much easier than dealing with dirty falang taxes.

Edited January 29, 2023 by Jenkins9039

[Neeranam]

19 hours ago, Jenkins9039 said:

Only crypto you bring to Thai exchanges should be in stables (as treated as currencies) which fall under capital controls (yes) but not as 'trading'. 

Most Thais I know, including myself, convert their crypto to stable coins on Binance and do P2P transaction to get fiat into their Thai bank accounts. You can do fairly large amounts of 2,000,000 a time.