Cryptocurrency

<a href="https://bitcoinworld.co.in/thailand-cryptocurrency-exchanges-getting-ready-ahead-of-crypto-tax-changes/" title="Thailand Cryptocurrency Exchanges Getting Ready Ahead Of Crypto Tax Changes" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Cryptocurrency exchanges in Thailand alert customers about the crypto tax changes and tax implications of holding digital assets.&nbsp;</li>
 <li style="font-weight: 400">Thai tax authorities plan to make changes to crypto taxes in the country this year.&nbsp;</li>
 <li style="font-weight: 400">Persons categorized as crypto taxpayers include crypto traders, miners, and people who earn in crypto.</li>
</ul>
Cryptocurrency exchanges in Thailand started informing customers about tax implications that may arise from their cryptocurrency trading activities in the country.&nbsp;
This development follows a slew of recent tax policies introduced by the Thai government to draw revenue from the space.&nbsp;
Previously, the tax authorities in the region announced upcoming changes that will see crypto revenue subjected to certain taxes.&nbsp;
Amidst the development, local exchanges based in Thailand have begun alerting customers about the changes.&nbsp;
In particular, the cryptocurrency exchange Bitkub exchange has <a href="https://support.bitkub.com/en/support/solutions/articles/151000033321-cryptocurrency-tax-and-frequently-asked-questions" rel="noopener noreferrer nofollow">updated</a> its website’s FAQ section to reflect these changes.&nbsp;
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According to the information provided, crypto taxpayers, as categorized by tax authorities, include “a person who has sold, paid, transferred, or exchanged a cryptocurrency/digital token” on an exchange registered in Thailand.&nbsp;
The category also includes crypto miners and persons earning in cryptocurrencies.&nbsp;
Furthermore, the FAQ page details information on taxes chargeable on digital assets held by users.&nbsp;
However, the crypto exchange clarified that it does not disclose customers’ information to tax authorities except at the customer’s request.&nbsp;&nbsp;
Meanwhile, a September 2023 report by <a href="https://www.bangkokpost.com/business/general/2649138/overseas-earnings-targeted" rel="noopener noreferrer nofollow">Bangkok Post</a> said most of the policy changes are directed at income or assets acquired overseas.&nbsp;
Per the report, the tax is seemingly directed at various groups, including citizens involved in cryptocurrency trading activities in the country.&nbsp;
However, this is not the first time the Thailand government has introduced taxes directed at crypto trading.&nbsp;
In January 2022, tax authorities in the region introduced a 15% capital gains tax on profits earned from cryptocurrency trading activities.&nbsp;
Thailand’s and foreign nationals who have spent more than 180 days per year in the country will be subject to the taxes once they take effect.
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Thailand Cryptocurrency Exchanges Getting Ready Ahead Of Crypto Tax Changes

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