What's Hot

    CFTC plans to tighten regulation of the crypto industry in 2023

    04.02.2023

    Huge state-owned Chinese blockchain ChainMaker

    04.02.2023

    “Cryptotolet will start in Q2 2023”

    04.02.2023
    Facebook Twitter Instagram
    Saturday, February 4
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Regulators»Thailand Introduces Capital Gains Tax For Cryptocurrency Traders
    3d6e779826dceefedc9bd81eef70fe38003638e5
    Regulators

    Thailand Introduces Capital Gains Tax For Cryptocurrency Traders

    AdministratorBy Administrator06.01.2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~ 1 m


    The Kingdom of Thailand is tightening regulations for miners and introducing a capital gains tax on cryptoasset transactions.

    While the Kingdom’s Ministry of Tourism is trying to stimulate the nascent crypto industry, attract crypto asset owners to the country and revive the coronavirus-affected tourism industry, these efforts are being thwarted by the government, which intends to further tighten regulation of cryptoasset transactions.

    According to a Bangkok Post source in the Thai Ministry of Finance, from January 2022, a new 15% capital gains tax will be introduced on all cryptocurrency transactions for private traders.

    From this point on, participants in the cryptocurrency market who profit from mining and other operations with cryptocurrencies are considered the beneficiaries of cryptocurrency transactions. Profit is recognized as income and is taxable. Miners will suffer more traders, since the initial cost of mined coins is virtually zero, and it will be more difficult for them to prove the costs.

    At the same time, the new tax will not apply to institutional investors and cryptocurrency exchanges that are exempt from it. Perhaps the special approach is due to the fact that some of the cryptocurrency exchanges in Thailand are directly associated with the country’s business elites, who received temporary tax preferences from the government.

    The Central Bank of Thailand is expected to release a financial landscape advisory document in early 2022 that will articulate its vision for what it calls the “red lines” in the crypto industry. The new rules will aim to minimize risks to Thailand’s financial system and protect investors’ rights.




    #Thailand #Introduces #Capital #Gains #Tax #Cryptocurrency #Traders

    Capital cryptocurrency Gains Introduces tax Thailand traders
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    CFTC plans to tighten regulation of the crypto industry in 2023

    04.02.2023

    Many American stars face lawsuits for promoting cryptocurrencies

    03.02.2023

    Crypto bloggers will fall under the control of the FCA

    03.02.2023

    Pavel Lerner, co-founder of the EXMO crypto exchange, was detained in Spain

    03.02.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • CFTC plans to tighten regulation of the crypto industry in 2023
    • Huge state-owned Chinese blockchain ChainMaker
    • “Cryptotolet will start in Q2 2023”
    • Elon Musk vows to share ad revenue with content creators
    • News Hedera (HBAR)
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.