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In February, the Thai Revenue Department had clarified how cryptocurrency and digital tokens (digital assets) will be taxed, several years after the government included provisions in the Revenue Code to tax digital assets.
Citing the difficulty of determining the appropriate tax to be imposed on digital asset transactions carried out through regulated exchanges, the tax authorities announced that gains from trading digital assets will only be taxed if the selling price of a digital asset exceeds its acquisition cost.
The tax authorities also provided guidelines for taxing cryptocurrency mining, digital assets received as salaries/wages or gifts, and profits from holding digital assets as investments.
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About Author
Varinder Singh
Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.
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