Central bank says ‘huge’ gold trade volumes beyond fundamentals are pushing up bahtListen to this article(Illustration: World Gold Council)Thailand’s ‌finance ​ministry plans to study the possible imposition of a tax ‌on online gold trading ⁠and will look at measures to limit gold ‌trading ‍volumes, permanent secretary ​Lavaron Sangsnit said on Tuesday. The BoT last week ordered tighter scrutiny of foreign exchange transactions linked to gold trading and instructed commercial banks to closely monitor foreign currency inflows. Gold trading in Thailand currently involves a 15% withholding tax on capital gains for 99.99% purity gold bar forward contracts on the Thailand Futures Exchange. While physical gold sales are generally exempt from value-added tax (VAT), excise tax of 10% may apply to jewellery. Gold traders have voiced opposition to a tax on physical gold and online transactions, saying such efforts to rein in baht appreciation would cause the country to lose its status as a gold trading hub.

Source: Bangkok Post December 23, 2025 10:47 UTC