The Thai government has eliminated taxes on gains from cryptocurrencies until 2029 to attract investors and promote the digital asset sector.
According to Efinance Thai, Thailand has approved a five-year tax exemption on profits from the sale of Bitcoin and other digital assets. The decision aims to position the country as one of the world’s leading digital financial hubs.
On June 17, Thailand’s Cabinet officially approved the tax measure proposed by the Ministry of Finance. The initiative removes personal income tax on capital gains from the sale of cryptocurrencies conducted through licensed operators under the 2018 Digital Asset Business Act.
Deputy Finance Minister Julapun Amornvivat stated that the tax policy is a cornerstone of the government’s strategy to turn Thailand into a major global center for Bitcoin and blockchain-based financial services.
The capital gains tax exemption will be in effect from January 1, 2025, to December 31, 2029. It applies exclusively to transactions carried out via exchanges, brokers, and dealers licensed and regulated by Thailand’s Securities and Exchange Commission (SEC).
Thai authorities estimate that this tax reform will boost the domestic Bitcoin market, generating positive spillovers for the country’s innovative tech ecosystem. Economic projections indicate a medium-term increase in tax revenues of at least 1 billion baht (around $30 million), driven by sector growth and fresh investment inflows.
According to the government, the initiative is also expected to encourage capital raising through digital tokens and foster the development of blockchain-based financial services.
