Thailand Announces Cabinet Approval for Extension, Expansion of VAT Exemption for Digital Asset Trading

The Thai Revenue Department Feb. 6 issued News No. 9/2024, announcing Cabinet approval of a royal decree to extend and expand a VAT exemption for specific digital asset trading. The decree includes measures to: 1) remove the sunset date of Dec. 31, 2023, from the exemption for the trading of cryptocurrencies and utility tokens on the exchange; 2) expand the VAT exemption for the trading of cryptocurrencies and utility tokens, to include licensed brokers and dealers, from Jan. 1; and 3) leave in effect the VAT exemption for transfers of investment tokens in the primary and secondary market, enacted under ...