Tipsuda Thavaramara – former Deputy Secretary-General of Thailand’s Securities and Exchange Commission – disagreed with the government’s intentions to impose a 15% capital gains tax on cryptocurrency profits. She believes such legislation is unpractical, unfair, and not beneficial for the trade sector.plans to slam local cryptocurrency investors and miners with a 15% capital gains tax. According to the legislation, digital asset exchanges would be exempt from the potential regulations.
“Withholding tax also affects transactions as stores that accept cryptocurrencies must collect capital gains tax from customers.”that the Revenue Department’s decision is “unfair and unpractical” as crypto exchange operators do not pay investment returns to users: Thavaramara noted that countries like Singapore, Australia, and some European nations do not treat cryptocurrencies as a product and have removed the value-added tax on trading. She urged Thailand’s authorities to follow that path.At the end of 2021, the Bank of Thailand unveiled plans to implement strict rules on the cryptocurrency industry in 2022 as the interest in the asset class keeps increasing.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.