Coinspeaker
Thailand Makes Crypto Trading VAT-free in Major Boost to Industry
In a massive development, the Finance Ministry of Thailand announced the exemption of value-added tax (VAT) on crypto asset trading in a move that seeks to establish the country as a prominent digital asset hub.
This decision, highlighted in a recent Bangkok Post report, is intended to encourage the use of digital assets as a fresh avenue for fundraising and stimulate the expansion of Thailand’s digital asset industry. Paopoom Rojanasakul, the secretary to the finance minister, shared the ministry’s vision with the media, emphasizing the strategic utilization of digital assets to propel the nation’s digital economy forward.
As regulators aim to establish Thailand as a digital assets hub in the region, the ministry has relaxed tax regulations by waiving the 7% VAT on earnings generated from cryptocurrency and digital token trading. This VAT exemption came into effect on January 1, 2024, with no specified
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