Thailand Weighs Gold Tax to Cool Baht Rally

The Bank of Thailand and the Finance Ministry are considering a tax on gold traded online in baht, Bloomberg News reported, citing people familiar with the matter.

The levy, aimed at slowing the baht’s rally that threatens exports and tourism, may exempt trades in U.S.

dollars, on futures exchanges, or from bullion shops.

Officials say the measure would curb gold exports and make domestic ownership costlier, as dollar inflows from bullion shipments have strengthened the currency.

BoT officials will meet gold traders on Monday to discuss the metal’s impact and tighter reporting.

Further talks with the Finance Ministry are planned, with a decision expected only after a new cabinet takes office.

The tax, possibly a special business levy, could apply when sellers convert dollar proceeds into baht, though rates remain undecided.