Thailand bitcoin VAT exempt

Fri 18th May 2018

Thailand has made digital currencies, such as bitcoin, VAT exempt.

This recognises the cryptocurrency as a ‘private money’ instead of a commodity with its own intrinsic value. This follows the treatment in the European Union and much of the rest of the world. Trading will though remain subject to capital gains or corporate income tax.

At the same time, Thailand announced the Thailand’s SEC will regulate the virtual currencies.

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