© Reuters Foreign media have started reporting more crypto anti-tax news in Thailand.
Beincrypto, the British crypto news outlet, turned its attention to Thailand earlier this month. After Thailand’s Ministry of Finance announced it would tax crypto at 15% of profits, provided all trading, mining, etc. are included in the tax details. The government is expected to come out with a summary of all the details on January 20 and clear up this confusion. Outside of the media, the majority have welcomed the clarity and regulation of crypto in the country. But there is still a lot of negative feedback on the idea of crypto taxation. The government is currently facing major economic problems due to a nearly two-year lockdown. As a result, thousands of small businesses that depend on the tourism industry at home and abroad are falling like dominoes. Opportunity to generate income for the new generation Kla party leader Korn Chatikavanij One of the politicians opposed to the new crypto tax stated that all profitable transactions would be taxed at 15% and that calculating the income would become a complicated process would become. and offering “The IRS collects sales tax like crypto as a product,” he said, “so it should tax cryptocurrencies. VAT must be charged on both purchases and sales of digital assets in baht.” Other political parties He expressed disagreement with Chakrabongse Sangmanee of the Pheu Thai Party. It states that crypto investors have already paid personal income taxes. Therefore, individual investors will be affected by additional taxes. But it benefits institutions that lead to more inequality. Thailand has one of the largest wealth gaps in the world, according to Credit Suisse Sudarat Keyuraphan, chairman of the Thai Sang Thai Party. added that governments lack the vision to tax crypto in the country instead of trying to encourage digital assets. This blocks income opportunities for the younger generation. Confidence in bank’s crypto, an expatriate reveals Thailand saw increasing interest in crypto during the 2021 bull market, replacing stock investments reserved for wealthy institutional investors, but crypto has become something anyone can have External media have faced stiff resistance against digital assets experienced by central banks. Although a number of small banks began investing in the past year, the Bank of Thailand has repeatedly warned investors and companies that “crypto is not accepted for payments,” claiming it is affecting the deteriorating domestic economy
Press to read the news. Foreign media have started reporting more news about crypto tax resistance in Thailand. Proceed to Siam Blockchain.
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