The Thai government has issued a royal decree that includes a provision to exempt cryptocurrency transfers from value-added tax (VAT) until December 31, 2023.
Under the new decree, transfers of cryptocurrency and digital assets on regulated exchanges will not require a 7% VAT payment until early 2024.
The new ruling is in addition to the previous decision not to charge VAT on cryptotransactions. That ruling also expires at the end of 2023.
The Thai government has also canceled plans to impose a 15% income tax on digital asset transactions.
Authorities said the reliefs are part of an effort to boost investment in the country’s digital asset space.