March 14, 2018 / 7:05 AM / in 10 months

Thailand to tax gains from cryptocurrency trade: minister

FILE PHOTO: Thailand's Finance Minister Apisak Tantivorawong gestures during an interview with Reuters at the finance ministry in Bangkok, Thailand, October 7, 2015. REUTERS/Athit Perawongmetha

BANGKOK (Reuters) - Thailand plans to impose a 15-percent withholding tax on gains from cryptocurrency trade, Finance Minister Apisak Tantivorawong said on Wednesday.

There will also be a value-added tax on such trade but retail investors will be exempted, he told reporters. He did not give further details.

The government is expected to introduce a law later this month to regulate digital assets, including cryptocurrencies and initial coin offerings, Deputy Prime Minister Somkid Jatusripitak told reporters.

Reporting by Satawasin Staporncharnchai; Writing by Orathai Sriring; Editing by Kim Coghill

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