For years, Thailand’s crypto tax rules were a labyrinth of 15% withholding taxes and complex annual filings. But as of January 2026, the landscape has shifted into one of the most competitive in Asia.
On September 5, 2025, the Thai government gazetted Ministerial Regulation No. 399, officially launching a five-year “Tax Holiday” for individual crypto investors. If you are a Thailand Privilege member, a digital nomad, or a retiree living in the Kingdom, this is your definitive window to realize your gains without the 5%–35% progressive tax bite.
Here is exactly how the 2025–2029 exemption works and how you can position yourself to benefit.
1. The Core Offer: What is Exempt?
The new regulation is straightforward: Personal Income Tax (PIT) on capital gains from the sale of cryptocurrencies and digital tokens is 100% exempt.
- The Window: The exemption applies to all qualifying transfers made between January 1, 2025, and December 31, 2029.
- The Target: This applies to individual investors only. It does not apply to companies or juristic persons.
- The Scope: It covers “capital gains”—specifically the profit you make when the selling price exceeds your original purchase cost (minus direct trading fees).
2. The “Licensed Operator” Catch
This is not a “blanket” exemption for all crypto activity. To qualify for the tax-free status, your trades MUST be conducted through a Thai SEC-licensed digital asset operator.
If you trade on an offshore, unregulated platform (like the global versions of major exchanges that don’t hold a Thai license), your gains remain taxable under the standard progressive income tax rates.
Qualifying Platforms in 2026:
To secure your tax-free status, you must use a locally licensed exchange, broker, or dealer. Notable examples include:
- Bitkub
- Orbix (owned by KBank)
- InnovestX (owned by SCB)
- Gulf Binance (the Thai-regulated joint venture)
- Upbit Thailand
Strategic Move: Even if you bought your Bitcoin on a foreign exchange years ago, you can transfer those assets to a Thai-licensed exchange and sell them there to utilize the exemption.
3. What is NOT Exempt? (The Fine Print)
While capital gains are now tax-free, the Thai Revenue Department still views other forms of “crypto income” as assessable. The following are typically excluded from the 2025–2029 tax holiday:
- Staking Rewards: Viewed as interest or “income from holding,” taxable at progressive rates.
- Mining Income: Viewed as business income.
- Airdrops: Generally viewed as “gifts” or other income.
- Referral Bonuses: Taxable as commission income.
Note: The exemption is strictly for the sale or transfer of the asset where a capital gain is realized.
4. The “Offshore Transfer” Strategy for Expats
A major concern for expats has been the “Foreign Sourced Income” rule introduced in 2024, which taxes any income brought into Thailand if you stay more than 180 days.
How to navigate this with crypto:
- If you are a Thai Tax Resident (180+ days): Transferring crypto from an offshore wallet to a Thai exchange to sell is a “remittance.”
- The Conflict: Some tax experts argue that the gain accrued while the crypto was offshore might still be viewed as foreign income.
- The LTR/Privilege Advantage: If you hold a Long-Term Resident (LTR) Visa (Wealthy Global Citizen or Pensioner), you are already exempt from tax on foreign-sourced income. For you, the crypto tax break is the “final piece of the puzzle,” making the entire realization process 100% tax-free.
5. Record-Keeping for 2029 and Beyond
The tax holiday ends on December 31, 2029. After this date, unless the government extends the decree, the 15% withholding tax or progressive rates may return.
Member Tip: Keep meticulous records now.
- Save all trade confirmations from your Thai-licensed exchange.
- Download monthly statements showing the cost basis of your transfers.
- Take a screenshot of the operator’s SEC license status for your files.
If you realize a massive gain in 2027, you may still be asked to “prove” it was exempt during a routine tax audit in 2030. Having your Thai exchange statements ready is your best defense.
Summary: A World-Class Crypto Hub
Thailand is now one of the only countries in the world to align crypto taxation directly with traditional stock market taxation. By removing the tax friction, the government has made it incredibly attractive to keep your digital wealth inside the Thai ecosystem.
Whether you are cashing out to buy a luxury condo or simply rebalancing your portfolio, the 2025–2029 window is your time to move.
Frequently Asked Questions
Do I still need to file a tax return if my gains are exempt? Yes. You should still declare your exempt income on your annual PND90/91 tax filing. Reporting “exempt” income is a great way to show a legal source of funds if you later decide to buy property or a car in Thailand.
What if I lose money on a trade? Since 2022, Thailand has allowed investors to offset capital losses against capital gains within the same tax year, provided the trades are done on licensed exchanges. Since gains are now exempt, this becomes less of a factor for PIT, but still useful for record-keeping.
Can the Thailand Privilege team help me with my crypto tax filing? The Elite Personal Liaison (EPL) and the program’s Wealth Advisory partners can connect you with specialized tax lawyers who understand digital asset regulations. This is highly recommended for high-net-worth investors.
References
- Thai Revenue Department: Ministerial Regulation No. 399 regarding Personal Income Tax Exemption
- Thailand Securities and Exchange Commission (SEC): List of Licensed Digital Asset Operators
