Thailand introduces tax breaks for investment token holders
Key Takeaways
- Thailand will introduce tax relief for investment token holders from January 1 to exclude certain income from personal income tax.
- The Thai government also provides tax exemptions to companies issuing investment tokens to encourage alternative financing methods.
- These measures are part of Thailand’s strategy to revitalize the economy by promoting investment and establishing itself as a key investment hub in the region.
According to a recent tax office announcement, as reported by the Bangkok Post., Thailand has introduced tax breaks for investment token holders.
From January 1, 2024, individuals who benefit from holding investment tokens and deduct the 15% withholding tax will now Exclude this income from your personal income tax calculations.
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This tax measure Promotes and facilitates investment token-based financing. It highlights Thailand’s commitment to fostering innovation and growth within the digital economy.
but, This only applies to individuals who do not wish to receive a refund or tax deduction. Regarding withholding tax deducted.
Director-General of the National Tax Service, Kulaya Tantitemit, emphasized that these measures are part of a plan to: A broad strategy to enhance Thailand’s attractiveness as an investment destination; There could be a potential positive impact on employment and overall economic vitality.
thailand government We have also implemented tax relief measures for companies issuing investment tokens. These measures include: Exemption from corporate tax and value added tax (VAT); Digital tokens provide a new way to raise funds for businesses.
Deputy Government Spokesperson Rachada Dhnadirek highlighted the Government’s expectations: Investment tokens could mobilize approximately $3.7 billion in capital within the next two years. It highlights the important role these digital assets can play in Thailand’s economic landscape.
By providing these incentives, the Thai government aims to unlock new potential in financing, investment and economic growth, paving the way for a more dynamic and innovative financial ecosystem.
In September 2023, Chainalysis recognized Thailand as one of the countries with the highest enthusiasm for cryptocurrency, especially among low- and middle-income countries.
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