Thailand to abolish taxes upon investment tokens
The Cabinet of Thailand voted to abolish both corporate income tax and VAT for companies that issue digital currency for investment.
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Besides, firms will also get access to alternative capital raising instruments in addition their debt obligations.
The innovations are expected to cause the Thai government the loss of 35 billion baht in tax revenues over the next two years. Nevertheless, it would attract crypto heads, which are closer to them than to El Salvador.
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