The Cabinet has approved a draft royal decree that sets the tax on profit from investment tokens at a flat rate of 15% instead of adding it to annual personal income.

MOST of the firms that have expressed an interest in raising funds through an initial coin offering (ICO) say they are concerned about the withholding tax of 15 per cent that will be levied on the profits, the chief of an ICO portal said yesterday as she warned of the dampening effect on the cryptocurrency sector in Thailand.