- The Director-General of the Revenue Department of Thailand has issued Announcement No. 52 regarding the criteria, methods, and conditions for tax exemptions on income and value-added tax for the transfer of digital tokens for public offering.
- The announcement is based on the authority granted by the Revenue Code.
- The criteria and conditions include not changing the accounting treatment or method used for digital token investments, not including the repurchase or profit-sharing payments in the calculation of net profit for corporate income tax, and not using the funds from digital token offerings for unauthorized projects or activities.
- Companies that do not comply with these criteria and conditions will not be eligible for tax exemptions.
- The announcement was made on October 26, 2023, by the Director-General of the Revenue Department.
Source: rd.go.th
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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