How to Report Bitcoin Gains in Thailand: A Complete Tax Guide

Understanding Bitcoin Taxation in Thailand

As cryptocurrency adoption grows in Thailand, the Revenue Department has clarified that Bitcoin and digital asset profits are taxable. Whether you’re trading, mining, or receiving crypto as payment, understanding how to report Bitcoin gains is crucial for legal compliance. Thailand treats cryptocurrency as a digital asset under the Emergency Decree on Digital Asset Taxation (2018), meaning profits are subject to either personal income tax or specific digital asset withholding tax depending on transaction types.

Step-by-Step Guide to Reporting Bitcoin Gains

1. Calculate Your Taxable Gains
   Subtract your acquisition cost (purchase price + fees) from disposal value. For mining, use market value at receipt as acquisition cost.
2. Determine Tax Category
   Trading profits count as assessable income. Mining rewards are taxed as miscellaneous income. Business income tax applies if trading is your primary occupation.
3. File Tax Returns
   Use P.N.D.90 for personal income (filed annually by March 31) or P.N.D.91 for corporate tax. Include crypto gains in your total income declaration.
4. Pay Withholding Tax (If Applicable)
   Exchanges withhold 15% on crypto-to-crypto trades. This counts as prepaid tax – claim credit when filing annual returns.
5. Report Foreign Exchanges
   Gains from offshore platforms (e.g., Binance) must still be declared. Convert values to THB using Bank of Thailand’s exchange rate on transaction date.

Essential Record-Keeping Practices

Maintain these records for 5 years:

• Dated transaction histories from exchanges
• Wallet addresses and transfer confirmations
• Receipts for hardware/expenses (for miners)
• Screenshots of market prices at transaction time
• Bank statements showing fiat conversions

Deadlines and Penalties

Personal tax returns are due March 31 following the tax year (January-December). Late filings incur 1.5% monthly interest on owed tax plus potential 200% penalty for intentional evasion. Corporate taxpayers face April 150 deadlines with similar penalties.

Frequently Asked Questions (FAQ)

Is Bitcoin legal in Thailand?

Yes. The SEC regulates licensed exchanges like Bitkub. Personal ownership and trading are permitted.

Do I pay tax if I hold Bitcoin without selling?

No tax applies until disposal (selling, trading, or spending). Unrealized gains aren’t taxed.

How are crypto-to-crypto trades taxed?

Each trade is a taxable event. Calculate THB value of both assets at trade time. The 15% withholding tax applies to these transactions.

Can I deduct crypto losses?

Yes. Capital losses offset capital gains in the same tax year. Unused losses can’t be carried forward.

What if I receive Bitcoin as salary?

Employers must withhold 15% at payment. You declare it as income alongside regular salary.

Are there tax-free thresholds?

Personal taxpayers enjoy 150,000 THB annual allowance. Progressive rates from 5-35% apply to income above this.

Professional Guidance Recommended

Given frequent regulatory updates, consult a Thai tax advisor specializing in cryptocurrency. The Revenue Department’s e-filing system supports digital asset reporting, but complex cases may require professional assistance. Proper compliance avoids severe penalties while supporting Thailand’s evolving crypto ecosystem.