Thailand will exempt value-added tax (VAT) from crypto currency or digital token transfers until the end of 2023.
The VAT exemption was announced as a new royal decree issued under the Revenue Code for the Exemption of VAT, which goes into effect on Thursday (26 May).
The new royal decree exempts from taxation all transfers of cryptocurrencies and digital assets on licensed digital asset exchanges from April 1, 2022 to December 31, 2023. The finance minister will be responsible for the process and execution of this royal decree.
The cabinet agreed in March to waive taxes on digital asset transactions. This exemption is now extended to digital asset transfers following the announcement of the royal decree. (NNT)
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