Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance, said the ministry is studying the imposition of a special business tax on gold trading that is primarily speculative, with an initial focus on transactions conducted via online platforms.
He said the Revenue Department could issue a regulation requiring online gold trading platforms to keep accounts and submit transaction data for inspection, similar to reporting requirements already applied to food delivery and e-commerce platforms.
Preliminary information suggests only 15–20% of gold transactions involve traditional gold shops with physical delivery, while more than 80% are traded freely through online platforms.
Lavaron said trading volumes on these platforms are extremely high, at times exceeding stock market turnover, yet the activity is not overseen by a dedicated regulator.
A special business tax, he added, would increase “friction” and introduce additional conditions that could slow transaction activity.
Vinit Visessuvanapoom, Director of the Fiscal Policy Office, said a Revenue Department announcement could be implemented quickly after receiving approval from the finance minister.
Once authorities have clearer data on platform-based gold transactions, the government would assess whether speculative trading is excessive, and then consider the suitability of a special business tax, while ensuring it does not affect small buyers.
He stressed the measures would not affect the general public who buy gold jewellery for personal use, or buy gold bars for saving and long-term asset accumulation.
Nor would they affect traditional gold shop operators conducting normal business.
The aim, he said, would be to target large investors using online platforms for massive short-term speculation without physical delivery of gold.
Officials said daily gold trading value has risen significantly, at times approaching levels seen on the Stock Exchange of Thailand (SET).
编辑：KK
