Do I Need to Pay Tax in Thailand on Cryptocurrency Gains from Bitkub?

[youke]

Hi everyone,

 

I’m currently trading cryptocurrencies on Bitkub, and I’m wondering about the tax obligations in Thailand regarding crypto gains.

 

Specifically:

• Are profits from trading cryptocurrencies taxable in Thailand?

• If yes, what kind of taxes apply, and how should I report them?

• Are there any exemptions or specific thresholds I should be aware of?

 

I appreciate any insights or advice from those who have experience with this. Thank you in advance!

[ukrules]

Any money made inside Thailand is regarded as Thai income and Bitkub is inside Thailand.

 

So it's taxed as personal income tax in the usual bands.

 

Would be a different situation if you were trading in some other country like the US, especially if you're a non US citizen.

Kraken.

 

[youke]

Thank you for your reply!

 

I have a few follow-up questions regarding taxation on cryptocurrency gains:

1. How is the profit calculated? For example, if I have both gains and losses from different trades, are the losses deductible from the gains?

2. Does Bitkub automatically withhold the taxes for me, or do I need to calculate and report the income myself?

 

[youke]

I found an article on Bitkub’s support page about cryptocurrency taxes. https://support.bitkub.com/en/support/solutions/articles/151000033321-cryptocurrency-tax-and-frequently-asked-questions

 

If someone is classified as a non-tax resident (i.e., they have not stayed in Thailand for 180 days or more within the tax year), are they still required to pay personal income tax on cryptocurrency gains earned through Exchange?

[ukrules]

Good questions, good luck getting any answers.

[anrcaccount]

Get advice from a Thai based, crypto experienced, professional accountant on this. 

 

IMO, very few/no individuals have ever paid tax on crypto trading gains, in Thailand.

 

Did you read the FAQs in that Bitkub post? They share basically NOTHING with the TRD, and are at pains to point that out.

 

This forum is not the place to get advice on this topic. If you were asking about remitting UK/US pensions, you've come to the right place. Crypto, not so much. 

 

 

 

 

[youke]

Got it, thank you very much!

 

I now realize I might have posted in the wrong section—apologies for the mistake. If possible, I’d appreciate it if the moderators could move this post to the correct sub-forum, or feel free to delete it if necessary.

 

Thanks again for the advice and understanding!

[Yumthai]

11 hours ago, anrcaccount said:

Did you read the FAQs in that Bitkub post? They share basically NOTHING with the TRD, and are at pains to point that out.

At the time they post the FAQs Bitkub people were "currently" right. I would not bet 1 satang they won't obediently hand historic data to TRD when rules change in the future or if asked firmly. That's easy available information to compute for tax purposes.