According to a government spokeswoman, Thailand’s cabinet has approved a measure that would exempt corporate income tax and value-added tax for companies that issue digital tokens for investment purposes. The government’s decision would offer companies an alternative channel for capital-raising, in addition to traditional methods like debentures.
At a news conference, Rachada Dhnadirek stated that the government anticipates investment token offerings worth 128 billion baht ($3.71 billion) in the next two years, resulting in a loss of tax revenue estimated at 35 billion baht.
Cryptocurrencies have gained increased popularity in Thailand due to the country’s Securities Exchange Commission’s recent regulation of digital assets.