The Royal Decree, based on the provisions of the Revenue Code concerning exemptions from taxation (Version 77/9), issued in the year 2566 of the Buddhist Era. This decree was proclaimed by His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun on August 13, 2566, the 8th year of the current reign.
The Royal Decree grants exemptions from income tax and value-added tax for digital token transfers related to investments, as stipulated in Article 175 of the Thai Constitution and Article 3(1) of the Revenue Code (Version 10/2496). It aims to promote investment by excluding digital token transfers from certain taxes. Digital tokens aimed at investment purposes in digital asset businesses launched after May 14, 2561, are eligible for these tax exemptions.
Companies or juristic partnerships involved in digital asset businesses must adhere to criteria, methods, and conditions specified by the Director-General of the Revenue Department to qualify for the tax exemptions. The decree was signed by Prime Minister Prayuth Chan-o-cha and came into effect after its publication in the Royal Gazette on August 15, 2566.
The primary rationale behind the issuance of this decree is to provide tax incentives for digital token transfers related to investment, akin to securities trading. These tax exemptions aim to encourage capital raising via digital tokens, fostering economic investment and enhancing Thailand’s digital asset market.
Please note that this summary is based on the information provided in the text and may not capture all nuances or legal intricacies.
Source: go.th
