Foreign media: Thailand approves income tax exemption for income from investing in tokens

Thailand’s cabinet on Tuesday approved tax exemptions on cryptocurrency gains to encourage financing through investment tokens, multiple local news outlets reported. Under this exemption, investment token holders who have had 15% capital gains tax withheld are not required to include profits in calculating income tax, essentially ending double taxation. Kulaya Tantitemit, director of the Thai Tax Department, said: “The Ministry of Finance, through the Tax Department, recognizes the importance of digital tokens for investment (investment tokens), which will become another tool for operators in the country to raise funds.” (CoinDesk)