Thailand approves personal income tax exemption for token earnings
The tax measures aim to promote fundraising using investment tokens and establish the country as an investment hub.
The Thai government has approved tax breaks for individuals holding investment tokens in an effort to promote the use of investment tokens for fundraising.
On March 13, local media outlet Bangkok Post reported that the Thailand cabinet had approved the tax breaks for investment token holders. In the report, the director-general of Thailand’s revenue department, Kulaya Tantitemit, said that individuals who made a profit from holding investment tokens and had a 15% withholding tax deducted could exclude this income when calculating their personal income tax.
Tantitemit said that the tax measures, effective Jan. 1, aim to promote fundraising using investment tokens and establish the country as an investment hub. The government official believes that this move will boost the country’s economy by having positive effects on investment and employment in the region.
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