Thailand Eases Taxes for Certain Token Issuers
The Thai Cabinet has abolished corporate income tax and value added tax for companies issuing digital tokens for investment, according to Reuters.
Government spokeswoman Rachada Dhnadirek has stated that this decision allows issuers to access alternative methods of raising capital, such as investment tokens, in addition to traditional methods like debt.
It is estimated that these assets will be worth $3.71 billion over the next two years, resulting in Thailand losing around $1.01 billion in tax revenue.
Investment coins are tokenized analogues of real assets and can be stocks, precious metals, and real estate.
Thailand had previously canceled VAT on transfers of digital assets until the end of 2023, provided the transaction is made through a licensed crypto exchange.
