🎉Thailand🇹🇭: Regulatory Approval for Income Tax Exemption on Cryptocurrency Earnings for the Population

🎉Thailand🇹🇭: Regulatory Approval for Income Tax Exemption on Cryptocurrency Earnings for the Population

The Thai government approved tax incentives for individuals who own investment tokens...

📌 ... However, there will be exceptions. The resolution does not apply to those who claim a tax credit.

📌 In addition to individuals, the beneficiaries of the legislative changes will be the issuers of investment tokens: they will be exempt not only from VAT, but also from corporate income tax.

📌 Background: Thailand has undergone a challenging journey towards cryptocurrency regulation. In January 2022, the government introduced a 15% tax on capital gains from cryptocurrency trading. The public response was negative, prompting resistance to the measure, leading to a reduction of the VAT on crypto to 7%. After further reflection, the government has opted to completely eliminate this tax. Ultimately, both traders, investors, and the government stand to benefit from these exemptions.

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