Thailand Exempts Token Earnings from Personal Income Tax

The Thai government has taken steps to encourage the use of investment tokens for fundraising by approving tax breaks for individuals holding these tokens.

According to the Bangkok Post, the cabinet made the decision on March 13, with the aim of promoting the country as a hub for investments.

Under this new ruling, individuals who earn profits from investment tokens and have a 15% withholding tax deducted can exclude this income from their personal income tax calculations.

This tax measure, which came into effect on January 1, is expected to have a positive impact on the economy by boosting investment and employment in the region, according to Kulaya Tantitemit, the Director-General of Thailand’s Revenue Department.

However, there are some limitations to the tax break. It will only apply to individuals who do not request full or partial refunds of the deducted tax or claim a deducted tax credit.