Thailand exempts value-added tax on cryptocurrency transactions, hoping to promote it as a new fundraising alternative

2024-02-07 13:02:20

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ChainCatcher news, according to the Bangkok Post, the Thai Ministry of Finance has announced the exemption of value-added tax on digital asset/cryptocurrency transactions. Finance Minister's Secretary Paopoom Rojanasakul stated that the Ministry of Finance aims to promote digital assets as a new alternative fundraising tool. The authorities hope this will support the development of Thailand's digital asset industry and provide the necessary impetus for the advancement of Thailand's digital economy in the near future.

The value-added tax exemption will take effect on January 1, 2024, with no termination date. The exemption from value-added tax on digital asset transactions previously applied only to authorized digital asset exchanges, and now includes brokers and dealers regulated by the Securities and Exchange Commission.

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