Deputy Finance Minister Julapun Amornvivat announced that the Thai Cabinet has exempted digital asset transactions from income tax for five years.
The grace period will last from January 1, 2025, to December 31, 2029.
Conducting transactions through local brokers and trading platforms licensed by the Thai Securities and Exchange Commission is the main condition for obtaining tax exemption, Amornwattana said. This step aims to increase market transparency and support regulated participants.
According to Julapun Amornvivat, the initiative may introduce other future taxes, such as VAT, on cryptocurrency-related services. He predicts that the grace period will bring at least 1 billion baht to the budget in the medium term.
The Deputy Minister of Finance stated, “Thailand is one of the first countries in the world to introduce such clear legislation and specific tax measures to regulate the digital asset sector.”