Thailand Launches Tax Rules For CryptoCurrency

[bird17]

the right decision of the Thai government, there is no point in prohibiting. Now investors and traders will be able to work within the law

[nopedope89]

There can be tax on a reasonable and plausible level. Like 10%. But the higher the legal theft.

[debuni]

Thailand's Ministry of Finance issues tax rules on cryptocurrency.
On March 27, after a cabinet meeting, the Finance Minister of Thailand, Apisak Tantivorawong, announced a move to legislate to regulate cryptocurrency.
With this new law comes a regulation in which investors pay 7% value-added tax on all crypto trades, and 15% of capital gains on returns. This is after approving the draft rules.

I thought it was just a FUD news came from an article but it seems it was been implemented already by Thailand. We all know that as part of government, we are expected to pay our taxes whenever and whatever our monthly salary comes from. Though it is in form of decentralized coin and digital currency.  Government imposed taxes in cryptocurrency because I think a lot of whales and richest investor who wanted to become a tax exempted. I think it is just good in order to avoid tax evasion of either government and non-government people but I think it burdens the citizen a lot. So, I hope that the tax imposed was not too high for the crypto hodlers.
Reference: https://www.ccn.com/thailand-cryptocurrency-tax-rates/

Yes, it not a FUD.

Capital gain tax is payed now in almost all counties when you convert to FIAT.
But to get it even worst,  this is the first official case to add VAT to crypto trades. It's wrong on so many levels.

[binghope]

So small investors are afraid of paying taxes on the Crypto market that they will give up, the Crypto market is less and less attractive to investors. The prosperity of the Crypto market is gone. In the future, many countries will apply the tax on Crypto.

[EastSound]

there are two side of the coin in this launching of tax in thailand, good news that crypto is already being welcome in the country and starting to show that cryptocurrency and crypto exchanges are legit, drowning the fake news about it being scam. but the bad news is that i think the tax is too high.

[MoneroMooo]

I think this rate is normal. because people in some countries need that money. and the tax rates in their countries are very high.
a few other countries will have to do this in other countries. 

[v0nyu]

i'm sorry i don't understand about tax on traders.
the traders must pay tax, but how if traders are lose? do they still pay tax?

[luongdk]

How will they control transactions?Are there any Thailand exchanges? as far as I know there are a lot of crypto community hanging out in their country, but this fee is extremely high. We should add fee for transaction,for withdrawal and other comissions, but where is profit?

[vanmoreno]

i think its a good news,,when something have tax  rules thats mean its a legal think and valuable right?

[tylerik1]

Really crazy to see the countries like Thailand are launching tax rules for Cryptocurrencies.  I think more countries will follow soon once they realize how many money is into this market. Everbody want to have a piece of the great crypto cake

[zakariajaki]

Thailand's Ministry of Finance issues tax rules on cryptocurrency.
On March 27, after a cabinet meeting, the Finance Minister of Thailand, Apisak Tantivorawong, announced a move to legislate to regulate cryptocurrency.
With this new law comes a regulation in which investors pay 7% value-added tax on all crypto trades, and 15% of capital gains on returns. This is after approving the draft rules.

very good information, good luck however the results of the Thai government regulation for me is very good for the development of altcoin crypto that is there, the legality of the government is needed for the existence of the current crypto, resulting in trust and create comfort in doing business in the world crypto, and hopefully more successful friends

[5ensei]

I guess crypto companies will not invest in Thailand! They will simply go next door to the Philippines which is more open to bitcoin technologies. This is a bad move for Thailand where travellers and tourists could have enjoyed paying in bitcoin and boosting their local economy

[rosyantony]

Major Cineplex Theater from Thailand is all set to begin new crypto payment to its services and products which includes movie tickets & popcorn.