Thailand has one of the most actively evolving crypto tax regimes in Southeast Asia.
Cryptocurrency and digital tokens are classified as digital assets under the Digital Asset Business Emergency Decree B.E. 2561 (2018), which establishes the legal framework for digital asset businesses and brings the sector within the oversight of the Securities and Exchange Commission (SEC) and the Ministry of Finance.
The Revenue Department (RD) has primary responsibility for taxation of digital asset transactions.
Capital Gains Tax Rules
Prior to 2026, individuals realising gains from crypto trading in Thailand were subject to personal income tax on those gains, assessed as ordinary income under the Revenue Code.
Thailand does not operate a separate capital gains tax schedule for individuals. Instead, all income is assessed as personal income at the progressive rates applicable to the individual’s total annual income. The 2025-2029 exemption under Ministerial Regulation No. 399 does not change this underlying structure.
It only temporarily suspends the tax liability on a specific category of gain rather than creating a distinct CGT framework.
How gains are calculated
For trades outside the licensed platform exemption, gains are calculated as the proceeds of disposal less the acquisition cost of the digital asset.
Where an individual holds multiple units of the same cryptocurrency acquired at different prices, the average cost method or a specific identification method should be applied to determine the cost base of the units sold, though the Revenue Department has not issued definitive guidance on the preferred methodology as of 2026.
Losses from individual transactions may be offset against gains within the same tax year, but the deductibility of crypto losses against other categories of income has not been explicitly confirmed by the Revenue Department.
Record keeping
Taxpayers trading on SEC-licensed platforms should retain exchange statements and transaction records even during the exemption period, as these records will be necessary to substantiate the exempt status of transactions if questioned by the Revenue Department.
For non-exempt trades, full records of acquisition costs, disposal proceeds, dates, and platform details are required. Thailand’s Revenue Department has been expanding its data-matching capabilities, and records should be maintained for a minimum of five years.
Income Tax Rules
Under Thailand’s Revenue Code, all income received by a Thai tax resident from any source worldwide is subject to personal income tax, unless a specific exemption applies.
For digital assets, this means that staking rewards, mining income, airdrops, and income from trading on unlicensed platforms are all taxable as ordinary income, regardless of the 2025-2029 exemption (which is limited to capital gains from licensed platform trading). Progressive personal income tax rates range from 0% (on annual net income up to THB 150,000) to 35% (on income above THB 5,000,000).
Cryptocurrency received as payment for goods or services in a commercial context is treated as business income in the tax year of receipt, with the THB value at the date of receipt forming the taxable amount. Businesses accepting crypto payments must record the THB equivalent at each transaction date. For employees paid in cryptocurrency, the value of the tokens at the date of receipt is treated as employment income subject to both personal income tax and any applicable social security contributions.
Foreign juristic persons receiving crypto income from Thailand are subject to a 15% withholding tax on such payments. This is a final tax obligation for the foreign entity and must be withheld and remitted by the Thai paying party.
As of 2026, the Revenue Department has indicated that staking and mining income will be treated as ordinary income pending further specific guidance on these activities.
Mining and Staking Treatment
Mining
Mining income in Thailand is not covered by the 2025-2029 licensed platform capital gains exemption.
Under general Revenue Code principles, cryptocurrency received through mining is treated as ordinary income in the tax year of receipt, with the THB fair market value of the mined coins on the date of receipt forming the taxable amount. For individuals mining as a trade or business, mining would constitute business income subject to the progressive personal income tax schedule.
Expenses directly attributable to mining, including hardware depreciation, electricity, and operational costs, should in principle be deductible against mining income, though the Revenue Department has not issued specific guidance on expense deductibility for crypto mining as of 2026.
When mined cryptocurrency is subsequently sold or transferred, the disposal proceeds less than the original income value (already taxed on receipt) would represent any further taxable gain. This two-stage treatment is consistent with the general Revenue Code approach to assets that generate income on receipt and then again on disposal.
Staking
The Revenue Department has not issued specific guidance on staking as of 2026, but applying general income tax principles, staking rewards would be characterised as ordinary income at the point of receipt, valued at the THB market value of the tokens on the date received.
For DeFi staking, liquidity provision, and yield farming, the same principle would apply, though the timing of income recognition has not been formally addressed. Subsequent disposal of staked or yielded tokens would give rise to a further taxable event on any difference between the disposal proceeds and the income value originally recognised.
NFT Taxation
NFTs in Thailand are classified as digital tokens under the Digital Asset Business Emergency Decree B.E. 2561 (2018), bringing them within the broader digital asset regulatory perimeter.
The 2025-2029 capital gains exemption under Ministerial Regulation No. 399 applies to digital asset trading on SEC-licensed exchanges; whether NFTs traded on such platforms qualify for the exemption depends on whether the specific platform and NFT product are within the SEC’s licensed scope.
As of 2026, the Revenue Department has not issued specific guidance clarifying the exemption’s application to NFTs.
For investment-held NFTs sold at a profit outside the exemption, the gain would be treated as ordinary income under the Revenue Code, assessed at the individual’s marginal personal income tax rate. For creators who mint and sell NFTs as part of a commercial enterprise, sales receipts constitute business income subject to personal or corporate income tax in the year of receipt. Ongoing royalty income from secondary sales is similarly taxable as it arises.
Reporting Requirements
Thai tax residents are required to file annual personal income tax returns using Form PND.90 or PND.91, with returns due by the end of March for paper submissions and the end of April for online filings. Crypto income and taxable gains must be included in the relevant income category within the return. All amounts must be converted to Thai Baht using the exchange rate at the date of each transaction, with reference to rates published by the Bank of Thailand or equivalent authorised sources.
During the 2025-2029 exemption period, capital gains from SEC-licensed platform trading are exempt from personal income tax and do not need to be included as taxable income. However, taxpayers should retain full documentation of exempt transactions in case the Revenue Department requests verification of the exemption’s application. Non-exempt income must be declared in full.
Corporate taxpayers must include digital asset income in their corporate income tax return, with the annual filing deadline five months after the end of the accounting year. The Revenue Department has been actively developing its digital asset monitoring capabilities, and the SEC’s licensing regime provides a data source for cross-referencing taxpayer declarations against exchange-reported transactions. Records should be maintained for a minimum of five years.
Penalties
Thailand’s Revenue Code provides for penalties on underpaid tax, late filing, and non-disclosure.
Where tax has been underreported, a surcharge of 1.5% per month (up to 100% of the tax due) may be imposed on the outstanding amount. In addition to surcharges, a penalty equal to a percentage of the understated tax may be imposed depending on the degree of culpability. Deliberate evasion can attract criminal prosecution under the Revenue Code.
Interest accrues on unpaid tax at a statutory rate from the original due date. The combination of penalties and interest makes extended non-compliance costly, particularly where large crypto positions have generated significant untaxed gains. Taxpayers who have participated in the 2025-2029 exempt market should still be aware that non-exempt income remains taxable and subject to penalties if undeclared.
Voluntary disclosure before a Revenue Department audit or investigation is initiated generally results in reduced penalties. Thailand’s tax administration encourages self-correction, and taxpayers who have failed to declare crypto income from prior years should seek professional advice regarding the available disclosure mechanisms and the potential for penalty mitigation.
