Hello,
I am a tax resident of Thailand, staying in the country for more than 183 days per year.
I understand that Thailand follows a remittance-based taxation system. My question is: if I transfer Bitcoin or Ethereum from a foreign exchange (such as Bybit) to a Thai exchange (such as Binance TH), will this transfer be subject to Thai income tax?
I would like to clarify if the act of moving crypto between wallets is considered "taxable remittance" even before it is sold for Thai Baht.
My understanding is as follows: Since transferring cryptocurrency is merely a "movement of assets," simply sending Bitcoin from one wallet to another should not trigger any tax liability.
However, I have another concern. Where did the funds used to purchase that cryptocurrency come from in the first place?
Was it from taxable income, or from funds that have already been taxed? If the Thai Revenue Department questions the source of these funds, how am I supposed to prove it? Does anyone even have the means to provide such proof? How are others handling this situation?
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