How to Report Bitcoin Gains in Thailand: A Complete Tax Guide

Understanding Thailand’s Tax Laws on Cryptocurrency

Reporting Bitcoin gains in Thailand is mandatory under the Revenue Department’s guidelines. Since 2022, cryptocurrencies like Bitcoin are classified as “digital assets” subject to taxation. Whether you’re trading, mining, or receiving crypto as payment, profits must be declared. Thailand imposes a 15% capital gains tax on crypto profits for individuals, while businesses face corporate income tax rates. Ignoring these rules risks penalties—so let’s break down how to comply correctly.

Classifying Your Bitcoin Gains: Capital Gains vs. Income

Your tax rate depends on how you earned Bitcoin:

• Capital Gains: Apply if you profit from selling Bitcoin held as an investment. Taxed at a flat 15% on net gains (selling price minus acquisition cost).
• Ordinary Income: If you earn Bitcoin through mining, staking, or as payment for services, it’s taxed as income at progressive rates (5–35%).
• Trading Activity: Frequent traders may be deemed “professional traders,” subject to business taxes instead.

Tip: Document every transaction—exchanges, wallets, and dates—to justify your classification.

Step-by-Step Guide to Reporting Bitcoin Gains

1. Calculate Net Gains: Subtract purchase costs (including fees) from sale proceeds. For income like mining, declare the Thai baht value at receipt.
2. File Form PND 90 or 91: Use PND 90 for capital gains (due by March 31). For crypto income, file PND 91 by April 30.
3. Submit via e-Filing: Log in to the Revenue Department’s e-Filing portal with your Tax ID. Upload transaction records if audited.
4. Pay Taxes Owed: Settle payments through bank transfer or e-Payment within the filing deadline.

Important Deadlines and Tax Forms

• March 31: Deadline for capital gains (Form PND 90).
• April 30: Deadline for ordinary income (Form PND 91).
• Key Forms: PND 90 (Capital Gains), PND 91 (Income), and supporting documents like exchange statements.

Note: Gains from regulated Thai exchanges (e.g., Bitkub) may have taxes withheld at source—confirm with your platform.

Penalties for Failing to Report Cryptocurrency Gains

Non-compliance carries severe consequences:

• A 1.5% monthly penalty on unpaid taxes (capped at 100% of the tax owed).
• Fines up to ฿200,000 and/or imprisonment for tax evasion.
• Audit risks: The Revenue Department uses blockchain analytics to track large transactions.

Tips for Keeping Accurate Records

• Save all transaction histories (dates, amounts, wallet addresses).
• Use crypto tax software like Koinly or Accointing for automated gain calculations.
• Retain bank statements showing fiat conversions.
• Store records for 5+ years post-filing.

Frequently Asked Questions (FAQ)

Q: Do I have to pay tax on Bitcoin in Thailand?
A: Yes. All profits from selling, trading, or earning Bitcoin are taxable under Thai law.

Q: How are Bitcoin gains taxed in Thailand?
A: Capital gains: 15% flat rate. Ordinary income (mining/payments): progressive 5–35% based on annual earnings.

Q: What forms do I need to file for Bitcoin gains?
A: Form PND 90 for capital gains; Form PND 91 for crypto-derived income. Both require transaction details.

Q: What happens if I don’t report my Bitcoin gains?
A: Penalties include fines, interest charges, and potential legal action. Audits are increasingly common.

Q: Can I deduct Bitcoin trading losses?
A: Yes. Capital losses offset gains in the same year. Unused losses can’t be carried forward.

Q: Are small transactions exempt?
A: No—all gains must be reported regardless of size. However, audits typically target larger sums.