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Thailand removes VAT on crypto trading

bangkok one feb 11 2024

Effective from January 1, 2024, the Finance Ministry of Thailand has eliminated the 7% value-added tax (VAT) on digital asset trading, with no expiry date. This decision is aimed at fostering digital asset and crypto trading as a new avenue for fundraising, thereby supporting the growth of Thailand’s digital asset industry.

The VAT exemption now encompasses brokers and dealers overseen by the SEC, aligning with efforts to bolster the digital asset space in Thailand. While promoting the expansion of the digital asset market, the government also underscores the importance of ensuring the stability of the financial system throughout this development. Additionally, amendments to the Securities and Exchange Act are being considered to enable digital investment tokens to bear resemblance to securities.

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