Thailand Offers $1B Tax Break for Firms Issuing Investment Tokens: Reuters
Companies issuing digital tokens would see corporation and sales taxes waived, the report said
Thailand is offering a tax break for companies that issue digital tokens for investment, in a move estimated to cost the government 35 billion baht ($1 billion), according to a report from Reuters.
The Thai government agreed on Tuesday to waive corporation and value-added tax, a form of sales tax, giving alternatives for companies seeking to raise capital, the report said.
In September, Thailand's financial regulator banned crypto firms from offering staking and lending services and established stricter crypto advertising rules, and has more recently issued regulations for crypto custody. Its central bank has also been involved in international projects to test central bank digital currencies (CBDCs).