Thailand exempts token companies from tax to raise capital

The Thai government will waive corporate tax and value-added tax for companies that issue cryptocurrencies to raise capital.

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Thailand exempts companies that issue tokens to raise capital

According to ReutersThailand has agreed to waive two types of corporate tax and value-added tax for companies that issue crypto tokens for investment.

As a result, the Bangkok government hopes to open up a new method of raising capital for companies, besides using financial leverage.

Financial officials estimate that in the next two years, there will be an investment of 3.71 billion USD worth of tokens issued by domestic enterprises, leaving the government with a tax deficit of 1 billion USD.

Thailand is one of the rare countries to actively adopt cryptocurrencies after placing the sector under the regulation of the Securities and Exchange Commission (SEC). However, only investing in cryptocurrencies is licensed, while crypto payments are completely banned in order to maintain monetary stability in the country.

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