TechFlow news, according to Beincrypto, Thailand is planning to tax overseas income earned by cryptocurrency traders, marking a shift from its previous stance as a crypto-friendly nation. The new government is urgently seeking ways to fund its planned economic stimulus measures, including nationwide airdrop initiatives.
The Thai Revenue Department has set its sights on overseas income, specifically mentioning cryptocurrency traders. The proposed new tax would apply to both Thais and foreigners residing in Thailand for more than 180 days per year. Under the new rules, individuals earning overseas income from work or assets will be required to pay personal income tax. Legal experts say the new policy appears to target specific groups, including "residents trading in foreign stock markets through foreign brokerage firms and cryptocurrency exchanges."
"The principle of taxation is that you must pay tax on income earned abroad, regardless of how the income was generated or in which tax year it was earned," said a source from the Ministry of Finance.
