Thailand Cryptocurrency Tax Explained: 5‑Year Exemption vs 15% Withholding Tax

Sep, 13 2025

When you hear "cryptocurrency tax in Thailand" most people assume a flat 15% gains tax. The reality is far more nuanced, and the rules changed dramatically at the start of 2025. This guide walks you through the 5‑year personal income tax exemption, the remaining 15% withholding tax for foreign entities, and the practical steps you need to stay compliant.

What the 2025‑2029 Crypto Tax Exemption Means

Cryptocurrency tax in Thailand is now governed by Ministerial Regulation No. 399 (B.E. 2568) which grants a five‑year personal income tax exemption on capital gains from crypto transactions. The regulation was published on 5 September 2025, took effect on 1 January 2025, and will stay in force until 31 December 2029. In plain language, if you are a Thai tax resident and you sell or transfer crypto on a platform licensed by the Thai SEC, you won’t pay personal income tax on any profit you make during that window.

The exemption is a strategic move to attract traders, startups, and investors to Thailand’s domestic digital‑asset ecosystem. The government estimates it will boost market activity enough to generate about $1 billion in annual revenue, even without taxing the gains directly.

Who Gets the Exemption and Who Doesn’t

Understanding the eligibility criteria is crucial. The exemption applies only when the following conditions are met:

• You are a Thai tax resident (meaning you spend more than 180 days in Thailand per year).
• The transaction is executed through a digital‑asset exchange, broker, or dealer that holds a license from the Thai Securities and Exchange Commission (SEC) under the 2018 Digital Asset Business Decree.
• The profit comes from the sale or transfer of a cryptocurrency or digital token. Income from mining, staking, lending, or derivatives is excluded.

If any of these points fail, the profit is taxable under the standard personal income‑tax brackets (0 %‑35 % depending on total annual income). Companies face corporate tax rates up to 20 % on crypto‑related revenue.

Below is a quick snapshot of qualifying vs non‑qualifying activities:

The 15% Withholding Tax for Foreign Entities

While Thai residents benefit from the exemption, foreign companies that earn crypto income in Thailand still face a 15 % withholding tax. This tax is deducted at the source and remitted to the Thai Revenue Department. It applies to any crypto‑related service fee, royalty, or profit originating from a non‑resident entity, regardless of where the crypto is held.

If you run a crypto exchange, payment gateway, or DeFi protocol that serves Thai users, you must register with the Thai Revenue Department, collect the 15 % withholding tax from your Thai clients, and file the appropriate forms. Failure to do so can result in penalties and the loss of the ability to operate legally in Thailand.

How to Keep Records and Report Correctly

Even though many gains are tax‑free, the law still requires you to keep detailed records. Here’s what you should track:

1. Date of each transaction.
2. Type of crypto (e.g., Bitcoin, Ether, USDT).
3. Quantity bought or sold.
4. Value in Thai Baht at the time of the transaction.
5. Name of the licensed platform used.
6. Whether the profit qualifies for the exemption.

When filing your annual personal income tax return, include a separate schedule that lists all crypto transactions. Mark the exempt trades with a note such as "Exempt under Reg. 399" and attach screenshots of the exchange’s license page as supporting evidence.

Companies must file a corporate tax return and disclose crypto‑related revenue in the same way they would for any other business line, distinguishing exempt and taxable items.

Tax Planning Tips to Reduce Your Liability

Even with the exemption, clever planning can keep you ahead of the curve:

• Shift activity to licensed exchanges. If you currently trade on an offshore platform, move to a Thai SEC‑licensed venue to capture the tax break.
• Use tax‑loss harvesting. Selling a losing position on a licensed exchange can offset gains from other crypto sales, reducing any taxable amount that falls outside the exemption.
• Time your trades. The exemption only lasts until the end of 2029. If you anticipate a large gain after that, consider realizing some profit earlier to lock in the zero‑rate period.
• Separate staking and lending activities. Keep these in a different wallet or account so you can clearly differentiate taxable income from exempt capital gains.

Remember, the exemption does not eliminate the need for record‑keeping; you still have to prove that each gain meets the criteria.

Common Pitfalls to Avoid

Many traders stumble over a few recurring mistakes:

• Assuming all crypto is tax‑free. Only profits from qualified trades on licensed platforms are exempt.
• Mixing P2P or DEX trades with licensed‑exchange trades in the same spreadsheet. This makes it hard to separate taxable from non‑taxable rows.
• Neglecting to report staking rewards. Thai law treats these as ordinary income, so they must appear on your tax return.
• Ignoring the 15% withholding tax if you run a foreign crypto service. The penalty for non‑compliance can be steep.

Quick Takeaways

• From 2025‑2029, Thai residents enjoy a 0 % personal income tax on crypto gains traded on SEC‑licensed platforms.
• The exemption does NOT cover mining, staking, lending, DeFi swaps, or P2P trades.
• Foreign entities still face a 15 % withholding tax on Thai‑source crypto income.
• Accurate record‑keeping and clear separation of exempt vs taxable activity are mandatory.
• Plan ahead: use licensed exchanges, harvest losses, and time large gains before the exemption expires.

Frequently Asked Questions