Thailand Approves Tax Relief For Bitcoin, Crypto
Thailand's cabinet approved tax relief for bitcoin and cryptocurrency investors giving a value-added-tax and loss-harvesting tools to offset taxes.The Cabinet of Thailand approved relaxed tax rules for Bitcoin investments.The tax relief includes a 7% value-added-tax (VAT) and loss harvesting mechanisms for taxes on cryptocurrencies. Direct and indirect investments into startup companies will also receive tax breaks for ten years if two or more years are invested into the startup. Thailand’s cabinet eased tax regulations on Tuesday for investments in Bitcoin and other cryptocurrencies in....
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The Thai Cabinet has approved tax relief measures for crypto trading. The new tax rules are “much more friendly to both investors and industry,” said an executive of a cryptocurrency exchange in Thailand.
Thailand Adopts New Tax Rules for Crypto Investments
Thailand’s Cabinet approved new tax relief rules Tuesday for crypto trading, according to an announcement on the Thai government website.
Finance Minister Arkhom Termpittayapaisith and Deputy Minister of Finance Santi Prompat jointly disclosed the outcome of the meeting, confirming that....
Thailand’s regulators are still approving crypto companies despite one of its largest ones suspending withdrawals. Thailand’s financial regulator, the Securities and Exchange Commission (SEC), has approved four more crypto companies in the Kingdom.On Aug. 4, it was reported in local media that the SEC had granted operating licenses to four more digital asset operators.These include Krungthai XSpring, a crypto broker affiliated with one of the country’s leading banks, and crypto exchange T-BOX Thailand. Also winning regulatory approval was crypto advisor and fund manager Coindee and Leif....
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and digital tokens through exchanges in Thailand will benefit from a 7% VAT exemption on such transactions. A decree published in the Royal Gazette on Tuesday enforced the tax break retroactively from April 1, 2022. It....
Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims.
Securities Watchdog Adopts Stricter Advertising Rules for Crypto Platforms in Thailand
Thailand’s Securities and Exchange Commission (SEC) has approved new requirements for crypto ads, Bloomberg and Reuters reported quoting the regulator. According to a statement released on Thursday, the changes come after the....
Thailand’s revenue department has decided to drop the 15% tax levied on cryptocurrency. This is a piece of positive news for the progressing cryptocurrency industry. This decision to do away with imposing taxes on the profit made by crypto trading comes after strong opposition from traders and crypto supporters of Thailand. Crypto would, however, continue […]