Transcript of the above video: 

As the title of this video suggests, well we are discussing the issue of cryptocurrency tax exemption here in Thailand. I thought of making this video after reading a recent article from the Pattaya Mail, pattayamail.com, from the ever articulate Mr. Barry Kenyon down there; hats off to you sir. The article is titled: Upbeat expat news on foreign income taxes coming soon. Quoting directly: "According to a news report in Bangkok Post, the Thai Revenue Department (TRD) is finalizing legislation to appear in The Royal Gazette about foreign income transferred here. Director-General Pinsai Suraswadi said the new law will exempt from personal taxation resident individuals who bring foreign sourced income into Thailand, provided that they transfer the cash in the calendar year, or the following successor year, in which it was earned."

Yeah, as discussed in other videos, this is different from how it was in the past where if you brought it in a different year from when it was earned, you could avoid assessability. Moving forward, if this is promulgated - and that's an IF” there - it has not been yet as of the time of this video at least, if it is promulgated then moving forward if you bring it in the same year or subsequent year, you are not going to have the issues with it. So that is what it is there for. It looks to me like they are trying to kind of rectify what turned out to kind of be really, it basically had bad ramifications on a broad scale.

That said the thrust of this video pertains to this small excerpt again from Pattaya Mail. I urge those watching this video, go check out that article in detail. Quoting directly: “The Cabinet has approved a TRD proposal to exempt personal income tax on capital gains from the sale of digital assets or cryptocurrency effective for five years.” And not to be too much of a semantic wonk on tax, but I think the proper terminology would be, to exempt capital gains taxed from the sale of digital assets, because personal income tax is a different thing. But whatever.

Again though the point being in this video is that they are one, trying to, it looks to me like attract folks back to kind of ameliorate or fix the problem that arose as a result of individual application of the memorandum promulgated Q3 of 2023 which came into effect January 1, 2024; they are trying to fix that, while at the same time though, they are basically creating an exemption for cryptocurrencies presumably to attract folks who are in that space. 

So I think that this is overall good news across the board. Again, it looks to me like the cryptocurrency issue has already been promulgated so it looks like folks can begin enjoying that. As to the issue of changes to the policy regarding funds remitted into Thailand as far as personal income tax and tax exemption thereof, it remains to be seen whether or not that Law or that memorandum if you will, will be promulgated. That being said, if it is we will certainly be keeping people updated on this channel as that situation evolves.