Today, Reuters reported that Thailand’s cabinet agreed to tax breaks for corporates that issue investment tokens. The taxes include corporate income tax and value added tax. Thailand distinguishes between many types of tokens, so the primary beneficiaries of this tax break are likely to be property developers for real estate tokenization.
The Deputy Government Spokesman Rachada Dhnadirek estimated that in the next two years, there would be 128 billion baht ($3.6bn) worth of investment token offerings in Thailand, resulting in foregone tax revenue of 35 billion baht ($1 bn).
Investment tokens are a narrow class of digital assets and do not include tokenized securities which are regulated along with conventional securities. It also excludes utility tokens and cryptocurrencies that don’t provide ownership rights.
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