Taxes

Indonesia Witnesses Sharp Decline in Crypto Tax Revenue Amidst Bitcoin Rally
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January 25, 2024January 26, 2024Crypto, News

Indonesia Witnesses Sharp Decline in Crypto Tax Revenue Amidst Bitcoin Rally

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Despite a significant surge in Bitcoin value in 2023, Indonesia’s cryptocurrency tax revenue experienced a substantial decrease, according to the country’s Ministry of Finance. The total tax revenue collected from cryptocurrency transactions in 2023 amounted to $31.7 million (Indonesian Rupiah 467.27 billion), marking a 62% drop from the previous year. This decline occurred even though...

Thailand Will Introduce Tax Breaks for Issuers of Investment Tokens
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March 7, 2023March 13, 2023Business

Thailand Will Introduce Tax Breaks for Issuers of Investment Tokens

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Thailand has abolished corporate income tax and value added tax for companies that issue digital tokens for investment. This was announced by the representative of the government of this country Rachada Dhnadirek, writes Reuters. Investment tokens are tokenized assets (created on the blockchain), which are a digital analogue of real assets and are tied to...