Thailand approves five-year crypto tax exemption

[Mercury]

https://cointelegraph.com/news/thailand-tax-exemption-crypto-income-five-years

Amazing Thailand! Becoming the number one cryptobros destination and residence for the next 5 years.

 

[toums]

Hmm, they’re saying it only applies to “approved” exchanges , so probably just Thai crypto exchanges.

Anyway, capital gains were already tax-free when using foreign crypto exchanges. It’s only if you remit the capital gains to Thailand (and if you’re a tax resident that year) that it could be taxed. But if they also approve the new tax exemption for remitted income in year N and N+1, that would solve the issue anyway.

 

[foreverdoomed]

Hmm, they’re saying it only applies to “approved” exchanges , so probably just Thai crypto exchanges.

Anyway, capital gains were already tax-free when using foreign crypto exchanges. It’s only if you remit the capital gains to Thailand (and if you’re a tax resident that year) that it could be taxed. But if they also approve the new tax exemption for remitted income in year N and N+1, that would solve the issue anyway.

yes this is the list, only reliable one is binance tbh

 

[Meta]

"Approved in principle", it's not a law yet. Quite cool anyway.