Thailand Eliminates Crypto Capital Gains Tax Through 2029

Thailand Eliminates Crypto Capital Gains Tax Through 2029

Thailand has announced a complete exemption from capital gains tax on cryptocurrency transactions through December 31, 2029. This decision follows the Cabinet's approval of the tax break for trades conducted through locally licensed exchanges, brokers, or dealers regulated under the country’s 2018 Digital Asset Business Decree.

Accelerating Thailand's Digital Asset Hub

The government’s aim is to position Thailand as a global digital asset hub while promoting transparent trading practices and fostering technological innovation. This crypto exemption is part of a broader tax incentive strategy designed to attract capital and enhance the country's reputation as a regional financial center.

Commitment to Transparency

In line with these efforts, Thailand’s Revenue Department is preparing to implement the OECD’s Crypto-Asset Reporting Framework. This move will increase transparency and accountability in digital transactions, setting Thailand among the first countries worldwide to establish clear laws and tax regulations governing digital assets.

Additional Tax Incentives

Furthermore, the Revenue Department has proposed tax exemptions on foreign-sourced income, targeting over 2 trillion baht ($58.8 billion) in overseas Thai investments. Income earned and repatriated within two tax years will be exempt from personal income tax, making it an attractive option for investors.