in last January cryptocurrency trading Announcing that they have given up the 15% tax, which is planned to be collected from everyone who does it, the Thai Ministry of Finance continues to work on the crypto money tax rules.
Arkhom Termpittayapaisith, Minister of Finance of Thailand In his speech at today’s cabinet meeting, he announced that they are relaxing the tax rules on crypto trading in order to revive the cryptocurrency industry in the country.
Minister Termpittayapaisith, government-approved cryptocurrency exchanges carried out digital asset trading He said he would be exempt from the 7% value added tax (VAT).
Termpittayapaisith stated that the tax exemption, effective from April 1, 2022 to December 2023, will also cover the trading of digital currency (CBDC) to be issued by the central bank.
Cryptocurrency investors will also be exempt from 15% withholding tax on stock market transactions. Because the Thai government, after the reactions from the crypto community, cryptocurrency transactions announced that it abolished the 15% withholding tax planned for
Lastly, Thai Finance Minister Termpittayapaisith stated that the cabinet also approved tax cuts for direct and indirect investments in startups.
In this context, investors who invest in crypto startups in the country for at least two years will receive a tax deduction for 10 years (until June 2032).