Cryptocurrency Tax in Thailand: What You Really Need to Know About the 15% Myth

Many people think Thailand taxes cryptocurrency gains at 15%. That’s not true - and believing it could cost you big time. If you’re trading crypto in Thailand or planning to, you need to know the real rules. The 15% figure floating around? That’s a withholding tax for foreign companies, not what Thai residents pay. For you, the local investor, the story is completely different - and way more favorable.

Thailand Just Gave You a 5-Year Crypto Tax Break

Starting January 1, 2025, and running through December 31, 2029, Thailand is not taxing capital gains from cryptocurrency sales - if you trade on the right platforms. This isn’t a loophole. It’s official government policy, published in the Royal Gazette under Ministerial Regulation No. 399 (B.E. 2568). The Thai government is actively encouraging local crypto adoption by removing the tax burden on profits from digital assets.

That means if you bought Bitcoin for 100,000 THB and sold it for 150,000 THB on a licensed Thai exchange like Bitkub or CoinEx Thailand, you owe zero in capital gains tax. Not 15%. Not 5%. Nothing. The profit is completely tax-free.

But Here’s the Catch - Not All Trades Are Covered

This exemption doesn’t apply to every crypto transaction. It only works if you’re using a platform that’s licensed by Thailand’s Securities and Exchange Commission (SEC). That’s the key. If you’re trading on Binance, Kraken, Coinbase, or any other international exchange - even if you’re living in Bangkok - your gains are still taxable.

Same goes for decentralized exchanges (DEXs) like Uniswap or PancakeSwap. If you swap tokens directly from your wallet, there’s no licensed intermediary involved. The Thai Revenue Department considers that a taxable event. You’re responsible for calculating and reporting those gains, even if the platform doesn’t send you a tax form.

Peer-to-peer (P2P) trades? Taxable. Selling crypto to a friend over Telegram? Taxable. Buying with cash from a local trader? Also taxable. The government wants activity on its regulated platforms - not off the books.

What About Staking, Lending, and Mining?

The 5-year exemption only covers capital gains from buying and selling. It doesn’t touch other types of crypto income. If you earn interest from lending your crypto on a Thai platform, that’s taxable as ordinary income. Same with staking rewards - if you’re earning new tokens just by holding them, the Thai Revenue Department treats those as income when you receive them.

There’s no official guidance yet on whether staking rewards are taxed at market value when received, or only when sold. But until they say otherwise, assume the worst: every time you get new tokens from staking, you owe tax on their value at that moment. Mining is even trickier. If you’re mining crypto in Thailand, the tokens you earn are considered income - and you’ll need to report their value in THB on the day you mine them.

And if you’re trading crypto derivatives, futures, or options? Those are also outside the exemption. They’re treated like financial instruments, and profits from them are subject to regular income tax rules.

Why the 15% Myth Exists - And Who It Applies To

The 15% number isn’t made up. It’s real - but it’s for foreign entities, not Thai residents. If you’re a U.S.-based company earning crypto income from Thai customers, or a foreign fund trading on Thai exchanges, you’re subject to a 15% withholding tax on that income. This is Thailand’s way of collecting tax from non-residents without requiring them to file full tax returns.

Thai citizens? They get the exemption. Foreigners living in Thailand long-term? If you’re a tax resident (living here more than 180 days a year), you’re treated the same as locals - you qualify for the 5-year tax break on qualifying trades. Non-residents? You’re stuck with the 15% withholding tax on any crypto income earned through Thai platforms.

Record-Keeping Is Still Mandatory

Just because you don’t owe tax doesn’t mean you can ignore your records. The Thai Revenue Department still requires you to track every qualifying trade. You need to know:

• When you bought each asset
• How much you paid (in THB)
• When you sold it
• How much you received (in THB)
• Which licensed exchange you used

You don’t need to file a separate crypto tax form - yet. But if the tax office ever audits you, you’ll need to prove your gains came from licensed platforms. If you can’t show that, they’ll assume you’re hiding taxable income. And the penalties for underreporting can be steep.

What Happens After 2029?

The exemption ends on December 31, 2029. The government hasn’t said what comes next. But they’ve made it clear they expect this policy to generate $1 billion in annual revenue - not from taxes, but from increased trading volume, new businesses, and foreign investment flowing into Thailand’s crypto ecosystem.

Think of it like this: by removing the tax, they’re growing the pie. More people trade. More exchanges open. More jobs are created. More taxes are paid on salaries, rent, and consumer spending. That’s the strategy. If it works, the exemption could be extended. If it doesn’t, they might reintroduce a lower rate - maybe 5% or 10% - instead of going back to 35%.

What Should You Do Right Now?

If you’re a Thai resident or tax resident:

1. Move your crypto trading to SEC-licensed exchanges like Bitkub, Zipmex, or CoinEx Thailand.
2. Stop using Binance, Kraken, or P2P platforms for profit-making trades.
3. Start tracking every buy and sell - even if you think it’s tax-free.
4. If you earn staking or lending rewards, record their value in THB on the day you receive them.
5. Don’t assume the 15% rule applies to you. It doesn’t.

If you’re a foreigner living in Thailand long-term, the same rules apply. If you’re just visiting or trading remotely, you’re likely subject to the 15% withholding tax if you use Thai platforms - and you may still owe tax in your home country.

Why Thailand Is Doing This

Thailand isn’t being generous. They’re being smart. Countries like Singapore and the UAE are competing to become Asia’s crypto hub. Thailand realized that if they want to win, they need to remove barriers - not add them. By offering a clear, time-bound tax exemption, they’re giving people a reason to trade locally.

The result? More liquidity. More jobs. More tech startups. More tax revenue from everything else people spend their crypto profits on - cars, rent, dining, travel. It’s a classic economic play: cut taxes on one thing to grow the economy around it.

This move puts Thailand ahead of most of Southeast Asia. Indonesia, Vietnam, and the Philippines still have unclear or punitive crypto tax rules. Thailand’s framework is one of the most advanced in the region - and it’s only going to get sharper as the 2029 deadline approaches.

Final Warning

Don’t let the 15% myth fool you. It’s not your tax rate. It’s a red herring. The real story is a 5-year tax holiday - but only if you play by the rules. Trade on licensed platforms. Track your transactions. Don’t assume your DeFi swaps are safe. And don’t wait until 2029 to get organized.

Thailand’s crypto tax rules are clear, simple, and generous - if you know where to look. Ignore them, and you’ll be the one paying the price later.