Thailand levies VAT on bitcoin

Thailand’s Cabinet has moved to levy 7% VAT on digital currency (e.g. bitcoin) transactions. This is aimed at curbing money laundering and tax evasion. The Council of State will have to ratify the widening of the tax net.

Over the past three years, the EU, South Korea and Japan have exempted from such consumption taxes. Trading gains will also be liable to Capital Gains Tax, like many countries.

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