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5 Year Crypto Tax Holiday Announced.

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On 7/17/2025 at 5:05 PM, JBChiangRai said:

AI just gave me this when I asked if the crypto tax holiday has been published in the royal gazette…

 

 

Thailand's Royal Gazette has published details of a five-year capital gains tax exemption on cryptocurrency trades conducted through licensed exchanges, starting January 1, 2025, and lasting through December 31, 2029. This exemption aims to foster a more robust digital asset ecosystem by encouraging trading on regulated platforms. 
 
Key Points: 
  • Exemption Scope:
    The tax break applies to capital gains from cryptocurrency trading conducted on exchanges licensed by the Thai Securities and Exchange Commission (SEC). 
     
  • Duration:
    The exemption is in effect from January 1, 2025, to December 31, 2029. 
     
  • Purpose:
    The goal is to attract investors, boost the digital asset market, and establish Thailand as a leading crypto hub. 
     
  • Regulatory Alignment:
    The move is also intended to align with anti-money laundering standards and promote the growth of the digital asset sector. 
     
  • Impact:
    This exemption is expected to generate significant revenue by attracting more investors and encouraging trading on local platforms. 
     
Additional Information: 
  • The Thai government expects the tax exemption to generate over 1 billion baht in annual revenue by stimulating market activity and attracting foreign investment. 
     
  • This initiative is part of a broader strategy to create a more favorable tax regime for digital assets and promote Thailand as a digital finance hub. 
     
  • While the initial announcement was made in June, the specifics, including the exact wording and implementation details, were published in the Royal Gazette. 

Looks good. Just waiting for the two year remittance window to be gazetted now then.

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  • Proposed change not yet enacted. Just like the proposed change to the same and subsequent year remittance rules.   Mere proposals at this stage. They make a lot of announcements about t

  • They don’t even realize how smart this move is. One billion in indirect tax revenue is a laughable underestimate.

  • When this announcement was broadcast on the 17th June there were a couple of other items that were included with the main 5 years PIT exemption headline. I’d be interested to hear other Bitcoiners tak

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On 7/18/2025 at 6:07 PM, Conno said:

Looks good. Just waiting for the two year remittance window to be gazetted now then.

I saw the announcement in June, got excited about getting a retirement visa; but the next day the Shinawatra dynasty looked like it was at an end. Wasn't expecting the change in regulations to go through, since I assumed it was Khun Thaksin's baby... maybe something he picked up on in Dubai.

Not sure what 'being gazetted' entails; but I hope it succeeds.

I'm in a neighbouring country where my visa will expire in two years. So lots of time for things to change. 

But, since time passes so quickly when we're old, I thought I'd ask if anyone knows a Thai tax accountant who has some knowledge of how this CGT exemption might work. Or, even better, an accountant who also could help with the retirement visa process. 

Wonder how they are going to handle this, ban it too?  The marketing states spend your crypto anywhere in the world ADA BTC SOL USDC USDT and earn rewards?  You are going to have modify your approach Thailand or get left behind. Up To You as they say. No stopping this tsunami.

 

https://cardanocard.io/

  • 1 month later...

https://www.nationthailand.com/news/policy/40055134?fbclid=IwY2xjawMseqlleHRuA2FlbQIxMABicmlkETFHcjZWSW5hQmw4b2hmcmxXAR56gPQYRtmUtEe978_DdAHbiqzcmIDrgmNmRE97JbxEn1R2MrtCrPaoxpEhMQ_aem_RIAN_O9m4CLeneS6dLqKEg

 

“(109) Benefits derived from the transfer of cryptocurrency or digital tokens carried out through a digital asset exchange, through a licensed digital asset broker, or transferred to a licensed digital asset dealer under the law governing digital asset businesses, shall be regarded as taxable income only to the extent that the proceeds exceed the investment cost. This shall apply to assessable income received from 1 January 2025 to 31 December 2029.”

 

LMAO WTF HAHAHAHAAH. SCAMMED AGAIN. 

Its legalese as far as I can tell and as clear as mud. I believe you could be interpreting this out of context but it is very odd all the same. How can an introduced amendment intended to exempt capital gains from crypto trades then say the capital gains are regarded as taxable income only to the extent that the proceeds exceed the investment cost. That's what capital gains are from the offset and the very same capital gains the amendment is claiming to exempt lol.  It's a complete contradiction. 

 

My take is that 109 is just specifying what part of crypto gains are now exempt until 2029. It's a sort of back to front way of saying this is what the amendment is targeting.

 

Think we need a lawyer or someone who is fluent in legalese to translate this for us lesser mortals. I doubt its a scam as this has been reported and covered everywhere, but more of a case of nuanced interpretation. I'm sure they write these laws with the full intention of creating confusion. High Five. they've done it again lol. 

If you need to use thai exchanges then id rather be taxed

7 minutes ago, angryguy said:

If you need to use thai exchanges then id rather be taxed

What is your issue with Thai exchanges that you'd rather pay tax than use one? Seems like cutting ones own nose off to spite your face? You are aware that CARF is being introduced globally right? If you are using a centralised exchange anywhere for ramping off, the jurisdiction you are resident in will know your trading history anyway. Unless you live in the UAE or El Salvador seems to me any tax advantages that are offered should be grabbed with both hands if available. 

Just now, Conno said:

What is your issue with Thai exchanges that you'd rather pay tax than use one? Seems like cutting ones own nose off to spite your face? You are aware that CARF is being introduced globally right? If you are using a centralised exchange anywhere for ramping off, the jurisdiction you are resident in will know your trading history anyway. Unless you live in the UAE or El Salvador seems to me any tax advantages that are offered should be grabbed with both hands if available. 

Id rather be taxed full capital gains on my crypto than ever have to use a thai exchange. Same goes for thai banks

Ok so you don't wish to give details why, up to you as they say. Thing is, what's going on in Thailand is pretty much a global issue, OECD related. Don't know where you are living but unless it's Mars or the Moon you ain't going to avoid it. Good luck. 

Let’s try to stay on topic — it’s already tricky enough to wrap our heads around.
I spent 15 minutes on ChatGPT and somehow ended up with two answers that completely contradicted each other.
At this point, I’ll just sit back and see what surprises the 2026 tax declaration has in store.

I asked a friend who's in the legal profession about the Article 109 paragraph. As I thought that paragraph is nothing more than the legalese ' Taxable Income Definition'  added to Regulation No. 126 giving the precise definition to which the exemption now applies 1 January 2025 - 31 December 2029. 

 

Good enough for me. Enjoy it while it lasts.  

On 9/10/2025 at 7:48 AM, Conno said:

If they are pulling the wool over peoples eyes they have done a good job. Even SiamBlockchain have been fooled. You might need to use Google translate. 

 

https://siamblockchain.com/2025/09/04/crypto-tax-summary-2025-thailand-to-exempt-taxes-for-5-years-which-cases-require-tax-payment-and-which-cases-dont/

I personally think that this article is close to the right explanation, let's say the most logical as globally, if you have some cryptos, here or anyway, and you bring it back on a Thai exchange, and sell it (to THB) in Thailand, that's good for Thailand, and no income tax for you. At  least I got it that way 😉 but maybe I am wrong. Logic no ?

  • Author

The 5 year crpto tax holiday was announced in The Royal Gazette on the 5th September so it is now law.

 

You need to sell through an authorised exchange, eg BitKub, it doesn't matter where you bought your crypto.

1 hour ago, JBChiangRai said:

The 5 year crpto tax holiday was announced in The Royal Gazette on the 5th September so it is now law.

 

You need to sell through an authorised exchange, eg BitKub, it doesn't matter where you bought your crypto.

 

So is it taxable if there are profits or not?
 

On 9/12/2025 at 4:39 PM, ukrules said:

 

So is it taxable if there are profits or not?
 

You beat me by seconds Yozah.

 

Or maybe yes it is 55555. Once again nobody knows for certain. I give up this place is a mad house.

 

 

25 minutes ago, yozah said:

 

Yes? 

Truth be told, it is all so vague it could mean anything.

 

I still believe there is a chance we are all reading this incorrectly. This is the paragraph from the Nation that needs clarifying. It could be as I said above highlighting the definition to which the new exemption now applies. Article 109 paragraph being the sub section and specific definition amended in regulation No. 126. I do agree though this all needs more clarification. 

 

The 399th ministerial regulation was published in the Royal Gazette on Friday, September 5, after being signed by then deputy finance minister Julapun Amornvivat on August 27.

 

The regulation was enacted under Article 4 of the Revenue Code to amend Finance Ministry regulation No. 126, which specifies categories of proceeds exempt from revenue tax.

 

 

 

Bitkub are also under the impression there is no CGT on crypto SALES.

 

https://support.bitkub.com/en/support/solutions/articles/151000215173-cabinet-announces-exemption-of-personal-income-tax-for-capital-gains-from-digital-asset-sales-on-17-j

 

Plus my GF has just translated a Thai video for me featuring Bitkub's Capital Group Holdings CEO and founder Jirayut [Topp] Srupsrisopa, also stating there are no CGTs on Sales of crypto.

 

So this is either the truth or Topps has also been mislead, misinformed or is mistaken? Which I very much doubt

I’ll try once more to explain how I interpret The Nation article which is now causing so much additional confusion.  My interpretation supports the widely accepted consensus in the MSM that Baht gains are exempt from CGT when cashing out crypto.  I think Ben from Integrity Legal is also misreading it. He did say he wasn't 100% sure. OK here goes with some of my own words added.....

 

On Friday September 5th the 399th ministerial regulation was published in the Royal Gazette after being signed by the former deputy finance minister Julapun Amornvivat on August 27th

 

The regulation [399] was enacted under Article 4 of the Revenue Code TO AMEND FINANCE MINISTRY REGULATION No 126, which SPECIFIES categories of proceeds exempt from revenue tax. 

 

The Nation article then highlights the exact and specific category definition to which the new regulation exemption [399] now applies. i.e. category 109. Also note that paragraph 109 in The Nation news piece is in quotation marks.

 

“(109) Benefits derived from the transfer of cryptocurrency or digital tokens carried out through a digital asset exchange, through a licensed digital asset broker, or transferred to a licensed digital asset dealer under the law governing digital asset businesses, shall be regarded as taxable income only to the extent that the proceeds exceed the investment cost. This shall apply to assessable income received from 1 January 2025 to 31 December 2029.”

 

109 is basically the original sub category tax definition within Finance Ministry Regulation No 126 to which amendment 399 [new CGT exemption] now applies from 1st Jan 2025 - 31st December 2029.

 

Does that make it clearer? Hope so, but probably not.   :biggrin:

  • Author
4 hours ago, Conno said:

I’ll try once more to explain how I interpret The Nation article which is now causing so much additional confusion.  My interpretation supports the widely accepted consensus in the MSM that Baht gains are exempt from CGT when cashing out crypto.  I think Ben from Integrity Legal is also misreading it. He did say he wasn't 100% sure. OK here goes with some of my own words added.....

 

On Friday September 5th the 399th ministerial regulation was published in the Royal Gazette after being signed by the former deputy finance minister Julapun Amornvivat on August 27th

 

The regulation [399] was enacted under Article 4 of the Revenue Code TO AMEND FINANCE MINISTRY REGULATION No 126, which SPECIFIES categories of proceeds exempt from revenue tax. 

 

The Nation article then highlights the exact and specific category definition to which the new regulation exemption [399] now applies. i.e. category 109. Also note that paragraph 109 in The Nation news piece is in quotation marks.

 

“(109) Benefits derived from the transfer of cryptocurrency or digital tokens carried out through a digital asset exchange, through a licensed digital asset broker, or transferred to a licensed digital asset dealer under the law governing digital asset businesses, shall be regarded as taxable income only to the extent that the proceeds exceed the investment cost. This shall apply to assessable income received from 1 January 2025 to 31 December 2029.”

 

109 is basically the original sub category tax definition within Finance Ministry Regulation No 126 to which amendment 399 [new CGT exemption] now applies from 1st Jan 2025 - 31st December 2029.

 

Does that make it clearer? Hope so, but probably not.   :biggrin:

 

Correct.

 

The old tax situation was published with the new amendment, providing you use an authorised exchange to sell your crypto, it is currently tax free.  

Hello and sorry if I add confusion to this thread but... What about selling stablecoins on a Thai regulated exchange?

Let's say I 'sell' some ETH on Binance/Coinbase/Kraken etc (outside of Thailand, like Binance International) for USDT, then directly transfer USDT to Bitkub and sell it for THB to transfer to a local bank, only using Bitkub as an off-ramp exchange;

Are stablecoins regarded as any other crypto assets in Thailand and therefore not triggering any tax event in case of sales, thanks to the new crypto tax exemption?

Thai SEC approved USDT/USDC for trading on digital asset exchanges, allowing stablecoins pairs trading in mid March 2025, but I couldn't find a word about taxation...


 

  • Author
21 minutes ago, AliceBob said:

Hello and sorry if I add confusion to this thread but... What about selling stablecoins on a Thai regulated exchange?

Let's say I 'sell' some ETH on Binance/Coinbase/Kraken etc (outside of Thailand, like Binance International) for USDT, then directly transfer USDT to Bitkub and sell it for THB to transfer to a local bank, only using Bitkub as an off-ramp exchange;

Are stablecoins regarded as any other crypto assets in Thailand and therefore not triggering any tax event in case of sales, thanks to the new crypto tax exemption?

Thai SEC approved USDT/USDC for trading on digital asset exchanges, allowing stablecoins pairs trading in mid March 2025, but I couldn't find a word about taxation...


 

 

You raise an interesting point.

 

Consider this.  You have money in (say) UK you want to transfer here but if you do it's taxable.  So you buy USDT, transfer it here and sell it on an authorised Thai exchange.

 

You can see the issue.

 

This is where profit comes into it.  Profit is currently tax free.  But the initial buy price could be subject to tax based on source of funds.

 

To be safe, I would not bring and sell stable coins here.

 

 

13 hours ago, JBChiangRai said:

 

You raise an interesting point.

 

Consider this.  You have money in (say) UK you want to transfer here but if you do it's taxable.  So you buy USDT, transfer it here and sell it on an authorised Thai exchange.

 

You can see the issue.

 

 

Well, you can do exactly same buying BTC and transfer it to Thai exchange. Interesting point, and we go back to the first question ... tax free or not. The positive point for Thai economy is that in either way, you are bringing foreign "currency" to be exchange to Thai Baht... After yes, they can ask you where this money (capital) comes from of course ...

  • Author
Just now, khunphil said:

Well, you can do exactly same buying BTC and transfer it to Thai exchange. Interesting point, and we go back to the first question ... tax free or not. The positive point for Thai economy is that in either way, you are bringing foreign "currency" to be exchange to Thai Baht... After yes, they can ask you where this money (capital) comes from of course ...

 

The profit is tax free.

 

So if you bought on an authorised Thai exchange then it's all free.

 

If you bought overseas then the profit is free, but you may be taxable on your initial stake depending on whether that stake was taxable so if that was before 1/1/2024 then it's all free.

19 minutes ago, JBChiangRai said:

 

The profit is tax free.

 

So if you bought on an authorised Thai exchange then it's all free.

 

If you bought overseas then the profit is free, but you may be taxable on your initial stake depending on whether that stake was taxable so if that was before 1/1/2024 then it's all free.

True ..for now.. if the new proposal does not become a law :
Possible rule easing (proposal): There has been a proposal to exempt foreign-source income if remitted within the year of earning or the following year; remittances after that window would be taxable. As of 1 Sep 2025, treat this as proposed (not law) and monitor formal adoption.

  • 4 weeks later...
On 9/21/2025 at 7:28 PM, JBChiangRai said:

 

You raise an interesting point.

 

Consider this.  You have money in (say) UK you want to transfer here but if you do it's taxable.  So you buy USDT, transfer it here and sell it on an authorised Thai exchange.

 

You can see the issue.

 

This is where profit comes into it.  Profit is currently tax free.  But the initial buy price could be subject to tax based on source of funds.

 

To be safe, I would not bring and sell stable coins here.

 

 



Well, in my case, all of these assets were bought a long time ago, long before 01.01.2024, so it sounds 'ok' regarding local PIT, at least on paper.
I could always transfer and sell them on some local exchange but, main overseas CEXs (Binance/Coinbase/Kraken etc) have much better volume/liquidities/fees/security...
I don't feel very confident about leaving my coins for even a few weeks in here, while swapping for USDT overseas, transferring here and instantly selling for THB on Bitkub sounds stress free, but maybe will I have to sell on local CEX.

Interestingly, most volume on Bitkub & Binance-TH come from USDT/THB trading:

Bitkub:
image.png.f2dbf166d30675fdc2c9c5e9bc122d6d.png

Binance-TH:

image.png.bc5ec9b615010b48037bc02def2533fe.png

 

 

I recently got in touch with a few '''tax accounting firms''' in BKK I've found online and couldn't get a clear answer if I need to register and fill or not with the TRD,
some stating it's not needed to report any crypto sales at all anymore, while most of them were barely aware of recent crypto regulations, not even talking about trading crypto pairs... What a waste of time!

Also in case of audit, how do I proof the origin of funds and assets, simple Excel sheets from foreign CEXs, printed bank statements, would that be enough?
It's a hell of thousands of transactions, pair tradings and swaps...
I still couldn't get any info related to specific taxation of stable coins sales on local CEXs, in theory that's exactly the same as selling any other crypto asset but who really knows?
Also maybe transferring USDT to local CEX, buy BTC to instantly sell would do the trick and reset local cost price...
Maybe yes, maybe not, maybe so, maybe too much of a hassle, maybe just sell directly then? No idea yet...

Does anybody know some solid/reputable Tax Lawyers/Accounting firms dealing with PIT and ideally with crypto/digital assets in BKK?

I'm willing to go for a consultation, seriously...

Thanks 🙏🙏🙏
 

 

  • Author
46 minutes ago, AliceBob said:



Well, in my case, all of these assets were bought a long time ago, long before 01.01.2024, so it sounds 'ok' regarding local PIT, at least on paper.
I could always transfer and sell them on some local exchange but, main overseas CEXs (Binance/Coinbase/Kraken etc) have much better volume/liquidities/fees/security...
I don't feel very confident about leaving my coins for even a few weeks in here, while swapping for USDT overseas, transferring here and instantly selling for THB on Bitkub sounds stress free, but maybe will I have to sell on local CEX.

Interestingly, most volume on Bitkub & Binance-TH come from USDT/THB trading:

Bitkub:
image.png.f2dbf166d30675fdc2c9c5e9bc122d6d.png

Binance-TH:

image.png.bc5ec9b615010b48037bc02def2533fe.png

 

 

I recently got in touch with a few '''tax accounting firms''' in BKK I've found online and couldn't get a clear answer if I need to register and fill or not with the TRD,
some stating it's not needed to report any crypto sales at all anymore, while most of them were barely aware of recent crypto regulations, not even talking about trading crypto pairs... What a waste of time!

Also in case of audit, how do I proof the origin of funds and assets, simple Excel sheets from foreign CEXs, printed bank statements, would that be enough?
It's a hell of thousands of transactions, pair tradings and swaps...
I still couldn't get any info related to specific taxation of stable coins sales on local CEXs, in theory that's exactly the same as selling any other crypto asset but who really knows?
Also maybe transferring USDT to local CEX, buy BTC to instantly sell would do the trick and reset local cost price...
Maybe yes, maybe not, maybe so, maybe too much of a hassle, maybe just sell directly then? No idea yet...

Does anybody know some solid/reputable Tax Lawyers/Accounting firms dealing with PIT and ideally with crypto/digital assets in BKK?

I'm willing to go for a consultation, seriously...

Thanks 🙏🙏🙏
 

 


Carl Turner www.expattaxthailand.com

 

My experience is that the volume on BitKub is adequate and it usually has a better price than international exchanges (sell side).

 

If your initial stake was tax free, then it’s all tax free for you.

 

However, I would “bed & breakfast” them here on an authorized exchange ASAP in case the new government decides to cancel the tax holiday. You will then have set a high purchase cost for future tax calculations.

 

I sold all mine a day before the crash and bought it all back plus another 10% after the crash. I got lucky.

They busted the scam ring. Tax holiday no longer serve the laundering purpose  it was created for. They will cancel it.

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