Thailand has decided to exempt profits from digital assets from personal income tax for a period of five years. This new measure will take effect from January 1, 2025.
Thailand Aims to Be a Digital Asset Hub
Deputy Finance Minister Chulaphan Amornvivat confirmed the Cabinet's decision to introduce a tax exemption on profits from crypto trading, provided the transactions are made through platforms supervised by the Securities and Exchange Commission (SEC). Chulaphan announced: "I have good news! The Cabinet has approved tax measures to promote Thailand as a Digital Asset Hub by exempting personal income tax for crypto profits made through SEC-supervised operators."
Objectives of the Tax Exemption
According to Chulaphan, the tax exemption is designed to:
* Fuel the growth of Thailand's crypto market * Encourage innovation and blockchain-based fundraising * Attract more digital asset businesses * Increase tax revenues in the long run, projecting a boost of over 1 billion baht in the medium term
This move positions Thailand as a forward-thinking jurisdiction aiming to compete with crypto-friendly hubs across Asia.
Who Benefits from the Tax Exemption?
The exemption will apply to profits earned through platforms licensed under the Digital Asset Business Act B.E. 2561, which includes:
* Digital asset exchanges * Digital asset brokers * Digital asset dealers
All such platforms must be regulated by the SEC and comply with oversight from the Anti-Money Laundering Office (AMLO).
Thailand’s decision to waive crypto income tax until 2029 could dramatically reshape its digital economy and attract global investors. With regulatory support, transparency measures, and a long-term vision, the country is laying the groundwork to become Asia’s next crypto and blockchain innovation hub.
