Thailand plans to tax cryptocurrency traders on their overseas income

ChainCatcher news, the Thai government is planning to tax cryptocurrency traders on their overseas income. It is understood that the new government seems eager to seek funding for planned economic stimulus measures, including nationwide airdrop activities.

The Thai Revenue Department is targeting overseas income, specifically mentioning cryptocurrency traders. The proposed tax regulations will apply to Thai citizens and foreign nationals who reside in Thailand for more than 180 days each year.

According to this new regulation, individuals earning overseas income from work or assets will be required to pay personal income tax. Legal experts indicate that this new policy appears to have specific targets, including "residents trading in foreign stock markets through foreign brokerage firms and cryptocurrency traders."

A source from the Ministry of Finance stated, "The principle of taxation is that you must pay tax on income earned from abroad, regardless of how you earn that income and regardless of the tax year in which the money was earned."