- Thailand permanently scrapped crypto trading taxes to become a regional digital asset hub.
- Additional moves aim to attract crypto investors like increasing retail investment caps.
- Thailand seeks to be the go-to destination for Southeast Asian digital asset activity.
Thailand’s crypto tax break
Thailand has rolled out a new tax incentive designed to establish the country as a regional hub for digital assets and crypto activity.
As of January 1st, Thailand has permanently eliminated the 7% value-added tax (VAT) previously levied on all cryptocurrency and digital token trading.
The tax exemption bolsters Thailand’s push to attract crypto investment and positions Bangkok as a crypto-friendly financial center versus regional rivals like Singapore and Hong Kong.
Last May, Thailand introduced a separate policy removing VAT taxes for crypto transfers to third parties.
Bangkok woos crypto investors
Additional crypto-friendly regulatory moves are also underway.
Last month, Thailand’s Securities and Exchange Commission increased the investment cap for retail investors buying digital tokens backed by real estate or infrastructure projects.
The government aims to spur alternative digital fundraising and accelerate the digital economy.
Thailand aims for crypto hub
“The government aims to promote digital assets as a new alternative for fundraising and to boost the country’s digital economy,” said Finance Minister’s Secretary Paopoom Rojanasakul.
With bespoke tax rules for crypto trading, Thailand is angling to become the go-to destination for digital asset investors and companies in Southeast Asia.
