Thailand greenlights tax breaks on Crypto heralding new opportunities for investors

The Thai government has approved a tax exemption measure for individuals holding investments in cryptocurrency.

Key Takeaways

• The new measure will focus on earnings from investment tokens, granting investors a significant advantage by exempting these profits from personal income tax calculations
• The Securities and Exchange Commission anticipates capital mobilisation via investment tokens to reach 18.5 billion baht this year.
• Thailand currently ranks among the countries with the highest crypto adoption rates globally, 

The new initiative aims to bolster the country’s digital economy by helping it become a crypto hub.  The exemption, effective from January 1, 2024, is part of a strategic initiative to encourage the use of digital tokens for fundraising and to position Thailand as an attractive investment hub.

Dr. Kulaya Tantitemit, the Director-General of the Revenue…