BoT Governor Vittai Ratanakorn said he agrees in principle with a business tax specific to gold and with reporting gold trades. The aim is to trace illegal money flows. Gold shops will likely face online trade reporting for transactions of 10 million baht or more. The BoT already requires cash deposits and withdrawals over 5 million baht to state their purpose and source, and money changers are capped at buying 800,000 baht of foreign currency per customer per day. No tax rate or start date was given. Gold shop owners should keep clear records of customer ID and source of funds for large sales, and watch for rules coming in.
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