coins in a jar

Thai IRS Confirms ‘Profits’ From Cryptocurrency Trading Will Be Taxed

The Thai IRS has now published that gains from the trading of digital assets such as cryptocurrencies must be taxed as they are considered income under Section 40 (4).

The Thai tax authority states that this category of income falls into the same investment category as deposit interest and loan interest, and they must also be taxed.

This is likely to dampen crypto sentiment in Thailand for the time being, as many small investors in the country did not expect quick taxation of digital assets.

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