Thailand Cabinet Approves Tax Measures to Boost Digital Asset Sales
Deputy Finance Minister Chulaphan Amornvivat announced that Thailand’s cabinet has given the green light to tax measures that will exempt personal income tax on capital gains from digital asset sales through SEC-regulated platforms.
The tax exemption will take effect from January 1, 2025, to December 31, 2030, with the aim of positioning Thailand as a prominent digital asset hub in the region.
Amornvivat stated, “The Cabinet has approved tax measures proposed by the Ministry of Finance to promote Thailand as a Digital Asset Hub,” emphasizing the government’s goal to boost the country’s cryptocurrency market, attract foreign investment, and stimulate domestic spending.
It is anticipated that this initiative will generate at least 1 billion baht in medium-term tax revenue and could result in the implementation of new tax structures, such as a Value-Added Tax (VAT). Thailand has been proactive in establishing comprehensive regulations and tax frameworks for digital assets, positioning itself as a leader in this space.
The Revenue Department is currently aligning with the OECD’s international standards for information exchange to ensure transparency and accountability in digital transactions.
Amornvivat expressed confidence in the government’s decision, stating, “I firmly believe this is another important step toward enhancing our country’s economic potential—and a great opportunity for Thai entrepreneurs to thrive on the global stage.”
In a move to prevent double taxation, Thai officials previously approved a tax exemption for earnings from investment tokens in the cryptocurrency market in March last year.