VATupdate

Thai cryptocurrency traders receive a VAT break

Finance Minister Arkhom Termpittayapaisith told a Cabinet meeting that the 7% VAT won’t apply to transfers of cryptocurrencies or digital tokens from April 1, 2022 to Dec. 31, 2023—as long as they take place on government-authorized cryptocurrency exchanges. Transfers of the central bank’s digital currency, to be launched this year on an experimental basis, also would be exempt.

Source: bloombergtax.com

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