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Cryptocurrency tax exempt for trades on approved exchanges until end of 2023

Investors who trade cryptocurrencies or digital tokens through properly registered exchanges will be entitled to a 7% VAT exemption on the transfer of the digital assets, retroactively from April 1st…

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A person uses a cell phone to pay with Bitcoins during the Latin Bitcoin conference (LABITCONF) in San Salvador, on November 18, 2021. (Photo by Sthanly ESTRADA / AFP)

Bank subsidiaries’ investments in digital assets to be capped at 3% of capital

The Bank of Thailand (BoT) is to issue a new regulation to limit investment in digital assets by business units of commercial banks to no more than 3% of their…

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Thai Central Bank invites feedback on its plan to set up virtual banks

The Bank of Thailand is open to feedback from all stakeholders, until the end of this month, about its plan to set up virtual banks in Thailand, Governor Sethaput Suthiwartnarueput…

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According to tax officials, those who engage in coin mining also will be subject to taxation on the sale of coins. (Photo by Quantitatives.io)

Thailand plans to regulate, limit cryptocurrency payment for goods, services

The Finance Ministry, Bank of Thailand and Securities and Exchange Commission (SEC) have agreed to a plan to regulate and limit the use of cryptocurrencies as a means of paying for…

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New 20-baht polymer banknotes to enter circulation on March 24

The Bank of Thailand (BoT) has issued new 20-baht banknotes, made of polymer rather than paper, for distribution from March 24th. BOT Governor Sethaput Suthiwartnarueput, explained that they chose to…

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Thai Central Bank warns against use of cryptocurrencies in transactions

Volatility and security risks mean that Thailand’s Central Bank remains unconvinced about the use of digital assets to purchase goods and services, as many shops have started allowing payment using…

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Thai banks assure systems are in place to protect against cyber scams

Commercial banks in Thailand have put in place measures to protect their credit and debit card holders from cyber fraudsters who, between October 1st and 17th, stole about 130 million…

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Central bank, TBA suspend credit, debit cards following suspicious deductions

Central bank, TBA suspend credit, debit cards following suspicious deductions

The Bank of Thailand and the Thai Bankers’ Association (TBA) have suspended the credit and debit cards of many customers who complained that money had been deducted from their accounts…

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Thailand’s household debt in Q1 at 90.5% of GDP and increasing – BoT

Thailand’s household debt, for the first quarter of this year, soared to 14.1 trillion baht, accounting for 90.5% of gross domestic product (GDP), and is increasing due to a fall…

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Banks told by central bank to extend debt repayment for SMEs until year end

The Bank of Thailand has instructed commercial banks to extend, until the end of the year, debt repayment periods for small and medium-sized enterprises, to help them cope with the…

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Chatu Mongol…for real or just seat warmer?

It may have surprised many when M.R. Chatu Mongol Sonakul, a former governor of the Bank of Thailand, was picked as the leader of the Action Coalition for Thailand Party (ACT), a…

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