The Thai authorities have announced the introduction of a new tax that will affect both residents of the country and those who remain in its territory by virtue of a residence permit or a long-term visa. The essence of the law is the taxation of any foreign income, including profits from the sale of cryptocurrencies.
The Bangkok Post reports that the Thai Tax Authority plans to start collecting personal income tax on all foreign income of the country’s residents from January 1, 2024. According to the published document, the law will also include income received for cryptocurrency trading.
The essence of the new law is that you must pay taxes on income received from abroad, regardless of how you received it and the year in which the money was earned.
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