The Thai Official Gazette released Royal Decree No. 788, which exempts Value Added Tax (VAT) on transfers of cryptocurrencies and the utilization of digital tokens.
The decree stipulates that, effective from January 1, VAT exemption applies to transfers conducted within digital asset trading centers, transactions made through or by digital asset brokers, and transfers to digital asset traders as outlined in the Digital Asset Business Act. It also defines “utilization digital tokens” as tokens intended to grant the right to obtain goods, services, or other specified entitlements.
The decree came into effect on September 25.
Source: The Thai Official Gazette
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