Thailand Value Added Tax

Digital Assets VAT

On 24 Sep 2024, Thailand VAT Royal Decree (No 788) was gazetted, prescribing exemption from VAT for transfers of cryptocurrency and digital utility tokens.
This Insight has been updated for the VAT exemption in Royal Decree (No 788).

The Value Added Tax Exemptions

Transfers of Digital Investment Tokens
From 14 May 2018 onward Exemption from VAT for transfers of digital investment tokens by a Thailand corporate entity to the public under the law governing digital asset businesses
(Royal Decree (No 779) gazetted on 15 Aug 2023)
Transfers of Cryptocurrency and Digital Utility Tokens
For the period 01 Apr 2022 to 31 Dec 2023 Exemption from VAT for transfers of crypto-
currency and digital utility tokens on digital asset exchanges that are licensed under the law governing digital asset businesses
(Royal Decree (No 744) gazetted on 24 May 2022)
From 01 Jan 2024 onward Exemption from VAT for transfers of crypto-
currency and digital utility tokens on digital asset exchanges or by brokers/traders that are licensed under the law governing digital asset businesses
(Royal Decree (No 788) gazetted on 24 Sep 2024)
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