Julapun signs regulation to exempt crypto trading tax for five years
Julapun signs regulation to exempt crypto trading tax for five years, attracting foreign investment.
Deputy Finance Minister Julapun Amornvivat announced on Thursday that he has signed a ministerial regulation exempting income tax on capital gains from the trading of digital assets for five years.
Julapun explained that the regulation was drafted following a Cabinet resolution on June 17, which decided to exempt capital gains from cryptocurrency trading from income tax filing requirements.
Regulation Scrutinised and Ready to Take Effect
The Office of the Council of State has reviewed the regulation, and once it is published in the Royal Gazette, it will come into effect.
Julapun stated that investors will be exempt from paying tax on capital gains from January 1, 2025, to December 31, 2029. The exemption will cover cryptocurrency trading via exchanges supervised by the Securities and Exchange Commission (SEC), as well as brokers and dealers.
A Move to Attract Foreign Investment
This new regulation positions Thailand as one of the first countries globally to implement clear laws supporting digital asset trading. Julapun believes it will attract foreign investors to the crypto market in Thailand and enhance the potential of the country’s digital industries.
Economic Stimulus and Boost to Innovation
He noted that the measure will stimulate the economy through the development of new technologies and innovations. The Finance Ministry estimates that the government will earn around 1 billion baht in tax revenue in the medium term.
Julapun concluded that this move would instill confidence among foreign investors and allow Thai digital asset exchange operators to compete more effectively in global markets.
