HLB Thailand Tax Team
Cabinet Approves Personal Income Tax Exemption on Capital Gains from Sale of Digital Assets
To support the government’s policy to make Thailand a global digital asset hub, the Thai Cabinet has approved in principle a draft Ministerial Regulation proposed by the Ministry of Finance to exempt capital gains made from the sale of digital assets from personal income tax.
The key point of the draft Ministerial Regulation that would be issued under the Revenue Code is to provide an exemption from personal income tax for capital gains made from the sale of digital assets (cryptocurrency or digital tokens) through digital asset business operators licensed under Thailand’s digital asset business laws, such as a Digital Asset Exchange, Digital Asset Broker or Digital Asset Dealer.
The tax exemption will be granted for 5 years from 1 January 2025 to 31 December 2029.
The personal income tax exemption will mean that the taxation of capital gains from the sale of digital assets is treated similar to capital gains from the sale of securities listed on the stock exchange in Thailand, which are exempt from personal income tax.
Last year, Thailand issued tax laws to exempt the sale of cryptocurrency and digital tokens from VAT and to limit the personal income tax payable on the share of profits or other similar benefits obtained from holding digital tokens to 15%. Read more at Tax exemptions for digital assets.
