Treasury moves forward with crypto taxation Expected to conclude at the end of this month.
Date 27 Jan 2022 time 21:40
Finance Minister Reiterates Crypto Taxation It’s not new, it’s been around for many years. It is expected that the conclusions will be easier to collect at the end of this month.
Finance Minister Arkhom Termpittayapaisith confirmed that the digital asset tax (crypto tax) was not initiated this year. It has been in operation since 2018, but in the past there were not many trading in such digital assets. and has just come to grow clearly in 2021 by the current Revenue Department The Securities and Exchange Commission (SEC), the Bank of Thailand, and the private sector, as well as related agencies, have discussed guidelines on practices or rules for collecting such taxes for clarity. more Due to the rapidly changing economic context especially digital assets which in the next phase will play an important role in driving more economic and social
For digital asset taxation It will operate in 2 parts: collect from the trading center. and raising funds through ICOs. In both matters, the Revenue Department and related agencies, both the BOT, the SEC, and the Ministry of Finance have held meetings to hear opinions from the private sector involved. both Thai Digital Asset Association Thai Digital Trade Association and various entrepreneurs to collect problems in filing tax returns and various recommendations from the private sector as a guideline for determining tax calculation guidelines in accordance with the law It is fair and does not create difficulties for those who have money.
Mr Arkhom said that last year there may be problems in publicizing the digital asset tax law. Misunderstanding that it is a new tax, but it is not actually a tax that has been collected since 2018, and in the past few weeks there has been a close discussion with the relevant authorities and There are some good suggestions, most of them wanting to be promoted. There are two approaches to tax policy: the promotion of any industry through abatement, except for a limited time. with guidelines that do not encourage the use such as the environment Currently discussing will be concluded at the end of this month. to summarize and determine the guidelines for filing tax returns
The Ministry of Finance attaches great importance to the use of digital assets to benefit the economy. without affecting the current financial system In the past, we have to admit that digital assets have always been growing. Therefore, to promote digital assets in the future, it is necessary to consider the guidelines of various countries and apply them to Thailand. through the implementation of policies to supervise and promote business operations by considering the digital asset tax Therefore, it must adhere to a taxpayer-centred approach. to create fairness for those involved Promote investment and create a driving force in financial innovation. how to make trading Raise funds through businesses and industries that benefit the country.