Home Blockchain News Toxic ICO Taxes: Thailand Stock Chief Slams Regulators for Crippling Crypto-Friendly Startups

Toxic ICO Taxes: Thailand Stock Chief Slams Regulators for Crippling Crypto-Friendly Startups

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By CCN.com: Thai startups raising funds by issuing digitized equities/stocks pay more taxes than an average business, according to Prinn Panitchpakdi. The governor of the Stock Exchange of Thailand (SET) said initial coin offering (ICO) startups typically pay 7 percent in value-added (VAT) and a 20 percent in corporate tax. At the same time, the Thai tax authorities have exempted technology giants like Facebook, Google, and Line from paying VAT. Panitchpakdi believed that such an unleveled field was choking Thailand’s startup ecosystem, for they no longer could experiment freely under a stiffer regulatory and tax framework. “In Singapore, such a

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* First published on ccn.com

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