Making money from cryptocurrency? The taxman may call on you, Opinion News & Top Stories

The range of potential investment opportunities in Singapore involving cryptocurrency continues to grow over time as these asset classes gradually gain mainstream acceptance. While there are risks involved in such investments and investors should certainly do their homework before blindly jumping on the bandwagon, for those lucky enough to have their investments pay off, the question arises as to whether a portion of those gains has to be shared with the tax authorities.

Thus far in Singapore, the Inland Revenue Authority of Singapore (Iras) has issued two e-Tax Guides on cryptocurrency, with one focusing on income tax and the other on goods and services tax. They provide an excellent introduction to the basic tax issues which cryptocurrency investors should be aware of.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Be the first to comment

Leave a Reply

Your email address will not be published.


*