Cryptocurrency, digital token transfers in Thailand exempt from VAT


BANGKOK (The Nation/Asia News Network): Transfer of cryptocurrencies or digital tokens as well as digital currencies issued by the Bank of Thailand (BOT) are exempted from value-added tax (VAT) from April 1 this year to Dec 31 next year.

According to Royal Decrees published on the Royal Gazette website on Tuesday, the transfer of cryptocurrencies or digital tokens at digital asset exchanges under the laws has been exempted from VAT collection.

Meanwhile, the transfer of digital currencies issued by BOT for public use has also been exempted from VAT.

The finance minister will oversee this under the Royal Decrees.

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