What are the tax implications of trading cryptocurrency in Singapore?

1 answers

• Dec 29, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can provide some insights on the tax implications of trading cryptocurrency in Singapore. The Inland Revenue Authority of Singapore (IRAS) considers cryptocurrency as a form of property, and any gains from trading are subject to tax. If you are a regular trader, your gains will be taxed as income. However, if you are an occasional trader, your gains may be treated as capital gains and subject to capital gains tax. It's important to keep track of your trades and report them accurately to comply with the tax laws in Singapore. If you have any specific questions or need further assistance, feel free to ask.
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