From January 1, 2024, Thai users holding investment tokens will not need to declare profits in their personal income tax declarations, as long as these profits are already subject to a 15% capital gains tax rate, according to the Internal Revenue Service. Thailand on March 12.

The goal of the new policy is to eliminate the current double taxation situation, encourage investment and support domestic businesses to use investment tokens as a new capital mobilization tool.

The Thai Revenue Department has emphasized the need for digital financial tools in boosting the economy. In particular, the Securities and Exchange Commission predicts that capital mobilization activities through investment tokens this year could reach 18.5 billion Baht.

Last year, Thailand also introduced a $1 billion tax incentive package for companies issuing investment tokens.

Notably, a report on the same day from the Bangkok Post said that Thailand has given the green light for large investors to pour money into spot Bitcoin ETF funds in the US, after adjusting some regulations.

Through these measures, Thailand hopes to attract more investment into the cryptocurrency sector and facilitate the growth of innovative business projects in the country.

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