The government of Thailand is moving to benefit from the digital asset industry growth by allowing tax-free issuance of digital tokens for investment.
Thailand's cabinet has agreed to waive corporate income tax and value-added tax for companies that issue investment tokens, ReutersAnnouncing the news on March 7, deputy government spokesman Rachada Dhnadirek said that companies will be able to access alternative ways of raising capital through investment tokens in addition to conventional methods like debentures.
Rachada added that the government expects investment token offerings to generate 128 billion Thai baht over the next two years. The state estimated potential losses of tax revenues at 35 billion baht .
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Thailand's cabinet has agreed to waive corporate income tax and value-added tax (VAT) for companies that issue investment tokens, Reuters reported.
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