Thailand to tax gains from cryptocurrency trade, says minister

An electric board showing exchange rate between South Korean won and bitcoin at a cryptocurrencies exchange in Seoul, December 13, 2017. — Reuters pic
An electric board showing exchange rate between South Korean won and bitcoin at a cryptocurrencies exchange in Seoul, December 13, 2017. — Reuters pic

BANGKOK, March 14 — Thailand plans to impose a 15 per cent withholding tax on gains from cryptocurrency trade, Finance Minister Apisak Tantivorawong said today.

There will also be a value-added tax on such trade but retail investors will be exempted, he told reporters. He did not give further details.

The government is expected to introduce a law later this month to regulate digital assets, including cryptocurrencies and initial coin offerings, Deputy Prime Minister Somkid Jatusripitak told reporters. — Reuters

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