Thailand Pushes Towards Digital Asset Hub with Introduction of VAT-Free Crypto Trading

In a move to position Thailand as a leading digital asset hub, the country’s Finance Ministry has announced the exemption of value-added tax (VAT) on digital asset trading. The decision aims to promote digital assets as a new alternative tool for fundraising and drive the growth of the digital asset industry in Thailand, according to a recent report by Bangkok Post. By easing tax rules, the ministry has suspended the requirement to pay 7% VAT on income derived from cryptocurrency and digital token trading. This VAT exemption, effective since January 1, 2024, has no expiration date, providing a long-term incentive for investors and traders in the digital asset space.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android