As they said: Thailand has approved the double taxation of cryptocurrencies

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2018-04-02 14:30:04

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As they said: Thailand has approved the double taxation of cryptocurrencies

At the end of the week the Ministry of Finance amendments on the taxation of cryptocurrencies and mining. According to the documents, the sale of coins will be subject to personal income tax at the rate of 13 percent and the miners will independently choose the system of taxation. For comparison, look at the situation in Thailand, where the day before adopted a similar law.

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Tax the cryptocurrency. The Asia version

The Government of Thailand has set itself a simple task, reports . Officials wanted to prevent money laundering, tax evasion, drug trafficking and other illegal activities with the help of cryptocurrency.

As a result, residents received 7-percent VAT for all transactions using the cryptocurrency. 15 percent will have to pay capital gains.

The Position explained by the Minister of Finance, Apisak Tantivorawong.

If you are a Hodler, you most likely will pay the state 15 percent of the profits. If you make payments using cryptocurrencies, you will have to pay 7 per cent as VAT.

Recall that in February the main Bank encouraged other banks not to get involved with cryptocurrency transactions. The lack of clear rules has led entrepreneurs to register their company in Singapore. Perhaps now the situation will improve.

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