Crypto Tax Thailand: How to Legally Pay Taxes on Cryptocurrency Income

Understanding Crypto Taxation in Thailand

As cryptocurrency adoption surges in Thailand, understanding tax obligations is crucial for investors and traders. The Thai Revenue Department classifies crypto as a “digital asset,” making profits from trading, mining, or staking subject to taxation. With Thailand’s SEC tightening regulations since 2022, compliance isn’t optional—it’s mandatory to avoid penalties. This guide breaks down everything you need to know about paying taxes on crypto income in Thailand.

What Crypto Activities Are Taxable in Thailand?

Thai tax law identifies several crypto-related events as taxable income:

• Trading Profits: Gains from selling crypto for THB or other currencies
• Mining Rewards: Value of coins received from mining operations
• Staking/Yield Farming: Rewards earned through DeFi platforms
• Airdrops & Forks: Free token distributions exceeding ฿600/year
• Crypto Payments: Income from goods/services paid in cryptocurrency

Note: Personal transfers between your own wallets aren’t taxed, but exchanges between different cryptocurrencies (e.g., BTC to ETH) trigger taxable events.

How Crypto Taxes Are Calculated

Thailand applies progressive income tax rates to crypto profits:

• 0% on first ฿150,000 annual income
• 5% on ฿150,001–300,000
• 10% on ฿300,001–500,000
• 15% on ฿500,001–750,000
• 20% on ฿750,001–1,000,000
• 25% on ฿1,000,001–2,000,000
• 30% on ฿2,000,001–5,000,000
• 35% above ฿5,000,000

Businesses: Corporate entities pay 20% flat rate plus 7% VAT if registered for crypto commerce. Losses can be carried forward 5 years.

Step-by-Step Guide to Filing Crypto Taxes

1. Track All Transactions: Use tools like Koinly or Accointing to log buys/sells with timestamps and THB values
2. Calculate Net Gains: Subtract acquisition costs (including fees) from disposal amounts
3. File Form PND 90/91: Report annual income via the Revenue Department’s e-filing portal by March 31st
4. Pay Taxes: Settle liabilities by April 30th via bank transfer or QR payment
5. Retain Records: Keep transaction logs and tax documents for 5 years

Tip: Exchanges like Bitkub issue tax certificates—request these for easier reporting.

Penalties for Non-Compliance

Failing to declare crypto income risks severe consequences:

• 1.5% monthly interest on unpaid taxes
• 100% surcharge on evaded amounts
• Criminal charges for fraud exceeding ฿4,000
• Account freezes by Thai SEC-regulated exchanges

The Revenue Department uses blockchain analytics to identify high-volume traders—don’t assume anonymity.

Frequently Asked Questions

Do I pay tax if I hold crypto without selling?

No—taxes apply only upon disposal (selling, trading, or spending). Long-term holdings aren’t taxed.

Are foreign investors subject to Thai crypto tax?

Only if trading through Thai exchanges or earning income from Thai sources. Non-residents pay 15% withholding tax on local crypto income.

Can I deduct crypto losses?

Yes! Net losses reduce taxable income. Report them on your PND 90 form to lower your tax burden.

Is NFT trading taxed in Thailand?

Yes—NFT profits fall under the same digital asset tax rules as cryptocurrencies.

What if I use overseas exchanges?

You must still declare income. The Revenue Department requires reporting worldwide income for tax residents.

Are there tax treaties for crypto?

Thailand has double-taxation agreements with 61 countries. Consult a tax professional to claim foreign tax credits.

Disclaimer: Tax laws evolve rapidly. Consult Thailand’s Revenue Department or a certified tax advisor for personalized guidance.