Thailand will allow traders to offset annual losses against gains for taxes due on cyptocurrency investments, and exempt a value-added tax of 7% for cryptocurrency trading on authorised exchanges effective from April 2022 to December 2023. This, after the Cabinet relaxed tax rules for investments in digital assets to help promote and develop the industry following a surge in cryptocurrency trading in Southeast Asia's second-largest economy. The tax exemption will also cover the trading of retail central bank digital currency to be issued by the central bank. Finance Minister Arkhom Termpittayapaisith said that digital assets have grown fast in Thailand over the past year, with trading accounts surging to about 2 million at the end of 2021 from just 170,000 earlier that year. Bitcoin is the most popular cryptocurrency in Thailand.
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