Thailand Scraps Plans to Tax Bitcoin, Crypto Transactions

Published by
The Street

By Rob Lenihan Thailand’s new rules will also allow traders to offset their annual losses against gains made in the same year. Thailand has reportedly scrapped plans to impose a 15% withholding tax on crypto transactions following a surge in cryptocurrency trading. Earned income on crypto trading or mining can be reported as capital gains on income taxes, tax authorities said Monday, according to the Financial Times. The new rules, outlined in a manual published by Thailand’s revenue department, will also allow traders to offset their annual losses against gains made in the same year. “The rev…

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