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 gains tax.
Thai Prime Minister Prayut Chan-o-cha had instructed the revenue department to brainstorm the issue and provide clarification for investors and the public according to a Jan. 11 Bangkok Post article.
The department has already been in discussion with the Bank of Thailand, the Securities and Exchange Commission, and the Stock Exchange of Thailand.