The new Thai tax rules are “much more friendly to both investors and the industry.” crypto cryptocurrency bitcoin $BTC
The Thai Revenue Department has also published a manual outlining the new tax rules applicable to cryptocurrencies and digital tokens.
Tax officials said Monday that income from cryptocurrency could be reported as capital gains, the Financial Times reported, adding that the new rules will allow traders to offset their annual losses against gains made in the same year. The crypto community welcomes Monday’s announcement. Pete Peeradej Tanruangporn, CEO of cryptocurrency exchange Upbit and co-chair of the Thailand Digital Asset Operators Trade Association, commented: “The revenue department did a lot of homework and reached out to crypto operators as well to get feedback.
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