Thailand exempts crypto and digital token trading from 7% VAT to promote digital asset industry growth and fundraising.

Thailand has announced it will not impose a 7% value-added tax (VAT) on earnings generated from crypto and digital token trading in an effort to position itself as a prominent digital asset hub. Additionally, there will be no VAT applicable for token transfers. The ministry hopes this decision will encourage the use of digital assets as an alternative fundraising avenue and stimulate the expansion of Thailand's digital asset industry. This move comes as electronic platforms must also disclose revenue from business operators on their platforms to improve tax collection and promote fair competition.

February 07, 2024
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