Thailand Approves Tax Relief For Bitcoin, Crypto Today

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  • The Cabinet of Thailand approved relaxed tax rules for Bitcoin investments.
  • The tax relief includes a 7% value-added-tax (VAT) and loss harvesting mechanisms for taxes on cryptocurrencies.
  • Direct and indirect investments into startup companies will also receive tax breaks for ten years if two or more years are invested into the startup.

Thailand’s cabinet eased tax regulations on Tuesday for investments in Bitcoin and other cryptocurrencies in order to fully develop the second-largest growing economy in Southeast Asia, according to an official press release.