The Thai Taxation Bureau has introduced a new policy, and foreigners’ cryptocurrency income in Thailand will also be taxed! 📢📢📢
According to the new tax policy issued by the Thai Revenue Authority, starting from January 1, 2024, new tax provisions will apply to foreigners who live in Thailand for more than 180 days each year. 📅📅📅
The new tax rules stipulate that when foreigners’ overseas income is transferred to Thailand, they need to pay personal income tax in Thailand. However, transfer savings are not included in this calculation. 💰💰💰
It is worth noting that overseas income here includes any source of income, that is, overseas cryptocurrency trading income will also be included. 💹💹💹
However, if the source country of funds has signed a double taxation agreement with Thailand, then the tax paid in the source country can be deducted in Thailand. 📜📜📜
Previously, the Thai government had stated that it planned to impose taxes on foreigners. Now that the new tax policy has been officially introduced, the cryptocurrency market will also be affected. let us wait and see! 👀👀👀
According to the new tax policy issued by the Thai Revenue Authority, starting from January 1, 2024, new tax provisions will apply to foreigners who live in Thailand for more than 180 days each year. 📅📅📅
The new tax rules stipulate that when foreigners’ overseas income is transferred to Thailand, they need to pay personal income tax in Thailand. However, transfer savings are not included in this calculation. 💰💰💰
It is worth noting that overseas income here includes any source of income, that is, overseas cryptocurrency trading income will also be included. 💹💹💹
However, if the source country of funds has signed a double taxation agreement with Thailand, then the tax paid in the source country can be deducted in Thailand. 📜📜📜
Previously, the Thai government had stated that it planned to impose taxes on foreigners. Now that the new tax policy has been officially introduced, the cryptocurrency market will also be affected. let us wait and see! 👀👀👀