NEW TAX measures aimed at curbing the Thai initial coin offering (ICO) market will adversely affect the economy as the measures could drive investors and entrepreneurs overseas, according to experts. However, Duenden Nikomborirak, of the Thailand Development Research Institute (TDRI), said the tax measures were not favourable for the Thai digital economy and tech start-ups. Therefore she called on the government to review the tax measures to take into account all the risks and rewards. They said that not only would VAT and income tax hit investors and issuers but they appeared to be redundant measures. Teerachart Kortrakul, an investor and founder of StockRadars, said many Thai investors were already trading cryptocurrencies abroad so they would not be affected.

Source: The Nation Bangkok May 14, 2018 12:45 UTC