Thailand Offers Tax Breaks for Investment Tokens

The Bangkok Post today reported that Thailand’s cabinet has approved tax breaks for companies that issue “investment tokens”. Specifically, the government has proposed to waive both corporate income tax and VAT for these firms.

Rachada Dhnadirek, a spokesperson for the Thai government, told reporters that this would give companies an alternative way to raise capital, aside from more traditional methods.

Investment tokens are a particular type of token that confers ownership rights to an investor but does not fall within the definition of a security token. Real estate investment tokens are most likely to meet this definition.

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The Bank of Thailand has previously banned the use of cryptocurrency for payment, stating that permitting this could potentially undermine Thailand’s financial stability.