Aware of concerns about taxation on crytocurrency gains, Prime Minister Prayut Chan-o-cha on Monday ordered the Revenue Department to clarify its policy to tax profits.
Government spokeswoman Traisuree Taisaranakul said Prayut acknowledged concerns from many parties about the Revenue Department’s requirement for those who made capital gains from their digital asset trading to pay tax.
There were the concerns that the taxation could obstruct the development of new money markets and block financial-technoogy startups from investing in the country.
The government did not have any intention to prevent new developments in any industries including fintech and would thoroughly consider any plan that would affect people’s investment and any new issue that only some people understood, Traisuree said.
The prime minister ordered the Revenue Department and the Finance Ministry to clarify the calculation of cryptocurrency gain tax on different types of investors, she said.