Spotlight on: Thailand Issues Guidelines on Digital Asset Taxation

The Thai Revenue Department has clarified how cryptocurrency and digital tokens (digital assets) will be taxed, several years after the government included provisions in the Revenue Code to tax digital assets. 

Citing the difficulty of determining the appropriate tax to be imposed on digital asset transactions carried out through regulated exchanges, the tax authorities announced that gains from trading digital assets will only be taxed if the selling price of a digital asset exceeds its acquisition cost. 

The tax authorities also provided guidelines for taxing cryptocurrency mining, digital assets received as salaries/wages or gifts, and profits from holding digital assets as investments.