Thailand approves capital gains tax exemption for crypto transactions through 2029

Thailand's Cabinet approved a tax measure proposed by the Ministry of Finance to exempt crypto transactions from capital gains tax, effective until December 31, 2029.

"Full speed ahead! The Thai government is accelerating efforts to position Thailand as a global digital asset hub," Deputy Finance Minister and the Pheu Thai Party's Member of Parliament for Chiang Mai Province, Julapun Amornvivat, confirmed, according to a translated post on Tuesday. "I believe this is a key step in boosting Thailand's economic potential and a major opportunity for Thai entrepreneurs to thrive on the global stage."

Under the new measure, capital gains from the sale of digital assets will be exempt from personal income tax, provided the transactions are carried out through licensed businesses — such as exchanges, brokers, or dealers — regulated by the country's Securities and Exchange Commission under Thailand's 2018 Digital Asset Business Decree, Amornvivat said.

The policy is designed to promote transparent digital asset trading, support technological innovation, and stimulate steady economic growth. It is also projected to generate over 1 billion baht ($30 million) in tax revenue over the medium term, according to the Deputy Finance Minister. The main objective is to energize Thailand's crypto market, attract foreign investment, and boost domestic consumption, he said.

Thailand is among the first countries in the world to implement clear laws and tax regulations governing digital assets. The country's revenue department is also preparing to implement the OECD's Crypto-Asset Reporting Framework to increase transparency and accountability in digital transactions.

Thailand previously waived its 7% value-added tax on crypto capital gains in February 2024. In January, the Securities and Exchange Commission announced that it was considering allowing locally issued Bitcoin ETFs to be listed on Thai exchanges amid rising global competition. More recently, in May, the regulator announced plans to block Bybit, 1000X, CoinEx, OKX, and XT from offering services to Thai users without proper authorization — part of broader efforts to restrict access to unlicensed platforms.