New era of regulated online gold trading: What businesses and investors need to know

Accordingly, the Ministry of Finance, the Revenue Department, and the Bank of Thailand jointly announced measures to manage the situation. This article outlines the measures and the implications for businesses and investors. 

What are the measures about? 

At present, the online gold trading market comprises approximately 15 service providers, including 3-4 major ones. The online gold trading service providers will be required to comply with the following measures: 

• Transaction reporting to the Revenue Department: Transaction data on gold purchases and sales must be submitted to the Revenue Department, in line with existing requirements for online platforms to electronically report merchants’ income from the sale of goods or services.  
• Transaction reporting to the Bank of Thailand: Detailed daily data on gold imports and exports, covering transactions involving Thai baht, must be reported to the Bank of Thailand. 

What are the consequences when the measures are coming into force? 

• Potential SBT: After receiving the transaction data reports, the Revenue Department will consider imposing Specific Business Tax (SBT) on the sale of gold bars by gold shops conducted through online platforms. 
• Transaction Limitation: Based on the transaction data received, the Bank of Thailand will subsequently consider setting transaction limits for gold trading on online platforms. 

Who may not be affected by this measure? 

• Individual investors who purchase gold through online platforms primarily for savings or investment purposes and in relatively small amounts may not be affected by these measures. However, they may indirectly bear part of the regulatory burden, for example, through higher transaction fees, withdrawal charges, or wider bid-ask spreads (i.e., the difference between the buying and selling prices). 
• Physical gold shops that do not conduct online transactions may likewise fall outside the scope of the measures. 

Implementation of the measures 

The reporting requirement for gold trading conducted through online platforms to the Bank of Thailand took effect on 27 January 2026, following an amendment to the relevant Ministerial Notification. 

As for the requirement for online gold trading service providers to submit transaction data reports to the Revenue Department, this can be carried out immediately. At present, the imposition of SBT has not been formally enacted. However, it remains within the authority of the Director General to introduce such tax through a subsequent Notification. 

Reference (in Thai): 

• Thailand to rein in gold trading as baht strengthens. Retrieved from Isra News.