Thailand plans to tax cryptocurrency traders on overseas income

Odaily Planet Daily News The Thai government is planning to tax cryptocurrency traders on their overseas income. It is understood that the new government appears to be rushing to find funds for planned economic stimulus measures, including nationwide airdrops. Thailand’s tax authority targets overseas income, specifically mentioning cryptocurrency traders. The proposed tax regulations will target Thai and foreign citizens who reside in Thailand for more than 180 days per year. Under the new rules, people who earn overseas income from work or assets will need to pay personal income tax. Legal experts said the new policy appears to have specific targets, including “residents trading in foreign stock markets through foreign brokerage firms and cryptocurrency traders.” A Treasury source said: “The principle of taxation is that you must pay tax on income you earn from abroad, regardless of how you earn it or in which tax year the money is earned.” (BeInCrypto )