Thailand crypto investor tax burdens are being relaxed from April 2022 until the end of 2023
According to the results of a cabinet meeting of the Ministry of Finance on Tuesday, Thailand crypto investor tax burdens are being eased from April 2022 to the end of 2023.
Thailand eases crypto tax burden until 2023 to promote industry
To boost the crypto industry, the Cabinet has approved tax relief measures, including a 7% value-added tax (VAT) exemption for crypto transactions on regulated exchanges.
Central Bank of Thailand Digital Money Transfers (CBDCs) issued by the Bank of Thailand are exempt from VAT.
Investors can offset annual losses against crypto gains on government-approved exchanges for tax purposes. The Thai government slashed its 15% tax deduction plans for crypto transactions earlier this year, following a public backlash.
The Bank of Thailand’s retail CBDC project is expected to enter the pilot phase later this year.
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