T21 on Nostr: Luckily, the Thai's IRS (กรมสรรพากร) has provide the special ...
Luckily, the Thai's IRS (กรมสรรพากร) has provide the special guideline document about how properly to submit and calculate taxes from crypto activities for yourself.
Which includes the answer for your concern, we are allowed to use either 'first-in-first-out' or 'moving average' that you can choose the method you prefer.
That means I can pre calculate both method and choose the method that turns out I have to pay less taxes and submit the results from that method to the IRS.
(But how you keep track your sats? How to keep records of every incoming sats and each of their prices? It is your job.)
Only restrictions about this process is I have to use same method for all of my digital assets in that year. Next year I can switch if I want.
The guideline I mentioned: https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.rd.go.th/fileadmin/user_upload/lorkhor/information/manual_crypto_310165.pdf&ved=2ahUKEwiuu6iU_tuKAxWvcmwGHZS1OuAQFnoECBoQAQ&sqi=2&usg=AOvVaw0eT29Eob04AhgzxHoA1dRU
Which includes the answer for your concern, we are allowed to use either 'first-in-first-out' or 'moving average' that you can choose the method you prefer.
That means I can pre calculate both method and choose the method that turns out I have to pay less taxes and submit the results from that method to the IRS.
(But how you keep track your sats? How to keep records of every incoming sats and each of their prices? It is your job.)
Only restrictions about this process is I have to use same method for all of my digital assets in that year. Next year I can switch if I want.
The guideline I mentioned: https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.rd.go.th/fileadmin/user_upload/lorkhor/information/manual_crypto_310165.pdf&ved=2ahUKEwiuu6iU_tuKAxWvcmwGHZS1OuAQFnoECBoQAQ&sqi=2&usg=AOvVaw0eT29Eob04AhgzxHoA1dRU