Coin

<ul class="news-points"> 
 <li>Thailand’s Finance Ministry waived the value-added tax on digital asset trading.</li> 
 <li>VAT exemption on crypto was limited to authorized virtual asset exchanges.</li> 
 <li>It has been extended to brokers and dealers under the Thai SEC’s supervision.</li> 
</ul> 
The Finance Ministry of Thailand has unveiled <a href="https://coinedition.com/thailand-crypto-exchange-readies-for-impending-tax-changes/" target="_blank" rel="noreferrer noopener">pivotal tax reforms</a> to position Thailand as a leading digital asset hub. According to a <a href="https://www.bangkokpost.com/business/investment/2737569/crypto-trading-becomes-vat-free-in-race-for-digital" target="_blank" rel="noreferrer noopener nofollow">local report</a>, the country has waived its 7% value-added tax (VAT) on cryptocurrency and digital token transactions. 
The report cited Paopoom Rojanasakul, the secretary to the finance minister, as the announcer of the new tax break. It noted that the action aligns with Thailand’s commitment to embracing digital innovation.&nbsp; 
According to the report, the initiative went into effect starting January 2024. It stated that the government seeks to catalyze the growth of the digital asset industry while fostering a vibrant digital economy. 
Since May 14, 2023, the transfer of digital investment tokens to a third party has remained exempt from VAT. Also, VAT exemption on digital asset trading was previously limited to authorized virtual …
The post <a href="https://coinedition.com/thailand-removes-7-vat-for-crypto-trading-to-bolster-digital-economy/">Thailand Removes 7% VAT for Crypto Trading to Bolster Digital Economy</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Thailand Removes 7% VAT for Crypto Trading to Bolster Digital Economy

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