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Thai crypto traders want details on taxes


The Thai Digital Asset Association said on Sunday that it will write to the Revenue Department on Monday to seek clarification on collecting withholding tax on profits made from cryptocurrency.

The association’s president, Suppakrit Boonsat, said the Revenue Department is still looking into the taxes it should apply and the association is seeking to discuss the issue with the department.

“Most cryptocurrency investors are ready to pay tax but are concerned whether their move will violate the Revenue Code, which says the statute of limitations for the incorrect filing of tax is five years,” he said.

Suppakirt added that the association will launch public hearings on this issue as well.

“I suggest people wait for the Revenue Department to make a final decision and for results of the public hearing,” he added.

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Published : January 09, 2022

By : THE NATION