Thailand government to clear up crypto tax confusion
The Thai revenue department will expedite tax criteria as traders and businesses seek further clarity. Thailand is fast-tracking its crypto tax plans as it readies regulations for digital asset traders this month in an effort to provide further clarity on crypto-related activities.The Thai revenue department’s director-general has stated that clear criteria for calculating taxes on crypto trading profits will be finalized this month.The statement comes less than a week after the Southeast Asian country’s government unveiled plans to levy cryptocurrency traders and miners with a 15% capital....
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Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims.
Securities Watchdog Adopts Stricter Advertising Rules for Crypto Platforms in Thailand
Thailand’s Securities and Exchange Commission (SEC) has approved new requirements for crypto ads, Bloomberg and Reuters reported quoting the regulator. According to a statement released on Thursday, the changes come after the....
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and digital tokens through exchanges in Thailand will benefit from a 7% VAT exemption on such transactions. A decree published in the Royal Gazette on Tuesday enforced the tax break retroactively from April 1, 2022. It....
Thailand’s government announced Tuesday that trade in digital assets is free from value-added tax, as part of a plan to upgrade the country’s payments infrastructure. Thailand’s Government Gives Tax Breaks Finance Minister Arkhom Termpittayapaisith told a press conference that the rules will allow traders to credit annual losses against gains for taxes due on cryptocurrency […]
![Bank Run In Thailand - Luckily Bitcoin Was Just Confirmed As Legal There [Local View Update]](minthumb/wider1.jpg)
The Bangkok Post today carries disturbing news out of Thailand: Deposit flight hits state-run bank. Panicked by rumours of rice scheme lending, GSB customers are pulling out their money in droves. The Government Savings Bank (GSB) is a bank under the management of the Thai government since 1929, when it was known as the Savings Office. It has 930 branches across Thailand. Customers outside Thailand's GSB. Bank Run in Progress. Accoding to the bank's president, GSB customers have withdrawn 30 billion Baht (around 1612903 BTC or 1 billion USD) in a single day. These mass withdrawals are due....
Saturday, September 27th 2014, Bitcoin Co. Ltd will be hosting a Bitcoin conference in Thailand, regardless of the country's inability to decide where they stand when it comes to cryptocurrency. Registration is free and open to the public. As if the people of Thailand needed another reason to invest in bitcoins, a few months ago there was a run on the Government Savings Bank (GSB), which is under management of the Thai government. We have fractional reserve banking to thank for this. The only thing worse than not getting your money is getting your money and it being worthless. Throughout....