Thailand has proposed a tax incentive of up to one billion dollars for companies that launch investment tokens according to Reuters
Thailand is taking steps to establish itself as a regional center for blockchain technology by encouraging the growth of digital assets.
Under the new initiative, companies that issue investment tokens can take advantage of a tax exemption of up to 5% of the total funds raised, with a maximum of $1 billion. This will provide them with a great opportunity to raise capital without having to pay taxes.
By using blockchain technology, investors are able to purchase tokens which provide them with a stake in a certain project or company, much like traditional securities. These tokens allow investors to be involved in the success or failure of the business, while also providing the potential to earn profits.
The Thai government’s decision to offer tax incentives to businesses in the cryptocurrency and blockchain sectors is seen as a major boon for the country’s burgeoning industry. It is hoped that this move will attract more investment, and help to make Thailand a global leader in the cryptocurrency and blockchain space.
Thailand has taken a proactive approach towards the implementation of cryptocurrency and blockchain technology, with the government taking steps to foster the growth of this industry while also maintaining a system of regulation to ensure its safety. This has allowed the nation to be at the forefront of the development of this technology in the region.