According to the former deputy secretary general of the Securities and Exchange Commission (SEC) of Thailand, a 15% capital gains tax on cryptocurrency income is “unfair and impractical.”
Tipsuda Thavaramara noted that Australia, Singapore and some European countries have canceled VAT on cryptocurrency trading. In her opinion, Thailand should learn from them.
“The tax will also affect simple transactions, as platforms will be required to levy capital gains tax from traders. Even if this policy is aimed at developing the cryptocurrency industry in the country, this does not change the fact that it is unfair. We should focus on existing rules and practices,” she said.
Earlier it became known that Thailand plans to launch its own digital asset exchange (TDX) in the third quarter of 2022. It is not yet clear whether TDX will allow trading in decentralized currencies or only tokenized Thai securities.
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