Thailand Exempts Cryptocurrency Income Tax for Five Years

On the 17th, the Thai Cabinet approved tax incentives proposed by the Ministry of Finance related to cryptocurrency transactions. Under this measure, capital gains derived from cryptocurrency trading will be exempt from personal income tax until December 31, 2029. Deputy Finance Minister Chulapong Amornwiwat stated in a declaration that 'the Thai government is fully committed to establishing Thailand as a global digital asset hub.' The Deputy Minister emphasized that this measure is a crucial step in enhancing Thailand's economic potential and represents a significant opportunity for Thai entrepreneurs to succeed on the global stage. The new system involves authorized operators (exchanges, brokers, dealers) under the supervision of the Securities and Exchange Commission...