Thailand refused to income tax on cryptocurrencies

The Cabinet of Council of Thailand freed operations with digital assets from an income tax for a period of five years. This was announced by Deputy Minister of Finance, Julapun Amornvivat.

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– จุลพันธ์ อมรวิวัฒน์ (@jamornvivat) June 17, 2025

The grace period will last from January 1, 2025 to December 31, 2029.

The main condition for obtaining tax exemption is to conduct transactions through local brokers and trading platforms that have a license to the Thai Securities and Exchange Commission. This step is aimed at increasing market transparency and supporting regulated participants, Ammornvivat noted.

According to Amornvivat, in the future, the initiative can lead to the introduction of other taxes, for example, VAT on services related to cryptocurrencies. According to his forecasts, in the medium term, the preferential period will bring at least 1 billion baht to the budget (at the time of writing $ 30.7 million).

Deputy Minister of Finance said that “Thailand is one of the first countries in the world to introduce such clear legislation and specific tax measures to regulate the digital assets sector.” He said that the country’s tax administration is already preparing for the implementation of standards for the exchange of information from the OECD.

In April, the commission adopted amendments to additional restrictions for foreign crypto platforms and new requirements, including data collection and blocking of criminal transactions.

In May, the Thai government announced the launch of the G-Token digital investment token. SEC emphasized that the asset developed by the Ministry of Finance cannot be used to pay for goods or transfer.

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