• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
SUBSCRIBE
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Thailand relaxes tax rules for crypto investors

Sandra Theres Dony by Sandra Theres Dony
February 7, 2022
in Crypto
0
Thailand
215
SHARES
3.6k
VIEWS
TwitterWhatsappLinkedin

Thailand has joined the list of countries that have realized the underlying potential of cryptocurrency. It has relaxed the planned 15 percent withholding tax after taking note of the high demand for crypto and its growing influence. The move is also to make the situation much more amicable for the investors as well as the industry. In general, crypto has been riding high on popularity with an increased number of people willing to step into this domain often characterized by uncertainties and volatility. It seems like people are holding on to the argument that crypto is a long-term investment with heavy future potential. And it seems like Thailand agrees. Read along to know more about the new tax rules in Thailand.

You might also like

Unraveling the Binance Drama: Former CEO Changpeng Zhao’s Legal Turmoil in the U.S.

Tron Emerges as a Key Player in Israel’s Battle Against Militant Financing

Unlocking the Vault: Anticipating the Release of $750 Million in Cryptocurrency Tokens by December

Thailand

The What and Why

Thailand had earlier planned to impose a 15 percent withholding tax on cryptocurrency. However now, Thailand has decided to not go ahead with the plan owing to the massive demand in addition to the pushback from the industry. A manual has also been published by the Thai revenue department stating the tax rules which will be applicable to cryptocurrencies as well as digital tokens. As per the report from Financial Times, the Tax officials have made it clear that the income earned from cryptocurrency can be considered capital gains thereby allowing traders to offset annual losses against the gains made.

The news about the relaxation of the tax rules was received with jubilation and excitement from the crypto community. In addition to the benefits, it also underscores the growing popularity and influence of cryptocurrency. Let us take a look at what Pete Peeradej Tanruangporn had to say about the new rules. Tanruangporn is the CEO of the cryptocurrency exchange Upbit and the Thailand Digital Assets Operators Trade Association co-chair,

“The revenue department did a lot of homework and reached out to crypto operators as well to get feedback. It is much more friendly to both investors and the industry.”

There was an announcement as well last week from the Bank of Thailand, the Thai Securities, and Exchange Commission about regulating cryptocurrency as a means of payment. While Thailand is on its way to becoming more crypto-friendly by relaxing tax rules and creating an amicable environment for investors, the Indian Government is sharpening its tools to strictly regulate cryptocurrency. It has already put forth a proposal to tax crypto transactions at 30 percent which is not-so-surprisingly the highest tax band in the country.

 

Tags: #CryptotaxThailand
Tweet54SendShare15
Sandra Theres Dony

Sandra Theres Dony

Content writer at Techstory, dealing with topics, Artificial Intelligence, Virtual Reality and Augmented Reality.

Recommended For You

Unraveling the Binance Drama: Former CEO Changpeng Zhao’s Legal Turmoil in the U.S.

by Anochie Esther
November 28, 2023
0
Changpeng Zhao

Changpeng Zhao, the former CEO of Binance, finds himself entangled in legal complications as he confesses to violating U.S. anti-money laundering laws. A federal judge's recent ruling mandates...

Read more

Tron Emerges as a Key Player in Israel’s Battle Against Militant Financing

by Om Chaturvedi
November 28, 2023
0
Tron Emerges as a Key Player in Israel’s Battle Against Militant Financing

  ## Introduction   In the ongoing struggle against the funding of Iran-backed militant groups, a new battleground has surfaced in the form of a rapidly growing crypto...

Read more

Unlocking the Vault: Anticipating the Release of $750 Million in Cryptocurrency Tokens by December

by Om Chaturvedi
November 28, 2023
0
Crypto

In the ever-evolving landscape of cryptocurrency, a groundbreaking event is poised to unfold this December as a staggering $750 million worth of digital assets are set to be...

Read more
Next Post
Bitcoin

7-year bull trendline of Bitcoin pushes it above $40k

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Nexcopy USB Duplicator

Make data loading to flash drives a simple process. Nexcopy USB Duplicator Systems.

Related News

How To Get To Bean Valley in Super Mario RPG

How To Get To Bean Valley in Super Mario RPG

November 19, 2023
How to get Johnny Silverhand arm in ‘Cyberpunk 2077’

How to get Johnny Silverhand arm in ‘Cyberpunk 2077’

August 28, 2023
How To Play Naruto x Boruto Ultimate Ninja Storm Connections with Friends

How To Play Naruto x Boruto Ultimate Ninja Storm Connections with Friends

November 19, 2023
How to send a gift message on Instagram

How to send a gift message on Instagram

August 18, 2023
How to see hidden replies on Twitter

How to see hidden replies on Twitter

November 17, 2023
COD- Modern Warfare

Burst Assault Rifle becomes a full-auto demon in Modern Warfare 3 loadout

November 14, 2023

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at info@techstory.in

Advertise With Us

Reach out at info@techstory.in

BROWSE BY TAG

#Crypto acquisition AI amazon android Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk entrepreneurship Ethereum facebook flipkart funding Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT Russia Social Media SpaceX startup startups tech Tech news technology Tesla TikTok trending twitter uber whatsapp

© 2023 Techstory Media Pvt Ltd

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2023 Techstory Media Pvt Ltd

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?