Additional tax regulations for cryptocurrency income earners

18 Aug 2022

Earlier this year, the Thai Revenue Department issued a law that requires taxpayers who have derived income from trading cryptocurrencies or digital tokens in digital asset exchanges authorised under the law on digital asset businesses (i.e. the cryptocurrency trading platforms operated by Thai companies, such as Bitkub, Zipmex, etc.) to prepare and maintain an account showing the profits and losses from the transfer of those cryptocurrencies or digital tokens. These taxpayers are also required to maintain supporting documentation/information that provides the following details:

a. the abbreviation of each cryptocurrency or digital token;

b. the date and time of the transfer of cryptocurrencies or digital tokens;

c. the type of transaction;

d. the amount of cryptocurrencies or digital tokens transferred;

e. the price of the transferred cryptocurrency or digital tokens;

f. the value of the cryptocurrencies or digital tokens in Thai baht calculated using the figures from

points (d) and (e) above;

g. the value of the transfer fees in Thai baht for cryptocurrencies or digital tokens; and

h. the cost of the cryptocurrencies or digital tokens.


The taxpayers are required to maintain their account and the supporting documents/information as evidence in the event of a tax audit.


The regulations mentioned above have already come into force.


We, N-Able Group, are real experts in tax advisory and compliance, and the planning for any issues that concern CRYPTOCURRENCY. If you wish for us to assist in finding the ways to reduce your tax on your cryptocurrency income, while maintaining compliance with the Thai tax laws in respect to the concerned areas, please do not hesitate to contact us through any of the following channels:


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