Thailand not planning tax on gold soon, trade group says
A gold seller weighs a gold bangle for sale to a customer at a gold shop, in Bangkok, Thailand, February 3, 2026. REUTERS/Chalinee Thirasupa
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BANGKOK, Aug 27 : Thailand’s government is not planning to impose a gold tax soon, the country’s Gold Traders Association said on Thursday, after a meeting that the finance ministry had said would include discussion on a tax.
• Association President Jitti Tangsithpakdi said Thursday’s talks were not about a tax but concerns about “grey” money, money laundering, and how to prevent those.
• “They didn’t confirm that there won’t be a tax. Just because we didn’t discuss it doesn’t mean it won’t happen, but right now it’s not an issue,” he told Reuters.
• The ministry is still studying a tax, which was a concern, Jitti said, adding gold market activity was currently sluggish.
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• The finance ministry said earlier this week that it would discuss a gold tax with the association as part of efforts to curb illicit funds.
• Another association member, Kritcharat Hirunyasiri, earlier told reporters the association would oppose any gold tax, if proposed, as it could undermine Thailand’s position as a regional gold trading hub.
• The meeting focused on preventing illicit activities through gold trading, he said.
• One proposal discussed was using credit bureau checks for gold buyers to identify high-risk individuals, who may be hired to buy gold on behalf of others, he added. More than 7,000 gold shops nationwide could be enlisted for screening, he said.
• The finance ministry’s permanent secretary, who chaired the meeting, could not be immediately reached for comment.
• Earlier this year, the central bank introduced rules to curb online gold trades, including a daily limit of 50 million baht ($1.5 million) per person per platform. It has also proposed cash payment limits for physical gold bar trades at gold shops.
Source: Reuters
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