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Thailand Introduces Virtual Currency Trading Tax Rules

by Mary Swire, Tax-News.com, Hong Kong

22 May 2018


In a last-minute change ahead of the implementation of new tax rules for virtual currency trading, Thai lawmakers agreed that virtual currency trading on regulated exchanges should be exempt from value-added tax.

Under the new regime, gains will be subject to a 15 percent capital gains tax charge, with the tax to be subject to withholding, and a seven percent value-added tax charge will be assessed where trades take place off an approved exchange.

The introduction of tax comes alongside a new regulatory regime for the sector, with new value-added tax registration obligations arising for many industry players.

TAGS: capital gains tax (CGT) | tax | value added tax (VAT) | law | financial services | Thailand | withholding tax | currency | regulation | trade | services

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