Cryptocurrency Tax Singapore
A snapshot of the Crypto Tax Rules in Singapore!
Disclaimer: Tax Rules are highly dependent on the facts and circumstance of each case. The simplified presentation below is for the most common scenarios, please do not rely on it without consulting a professional.
“ The Inland Revenue Authority of Singapore (IRAS) classifies digital tokens into the follow Three categories
Digital Payment Token
ICO (Issuance):
Proceeds Taxable
Buying: Non-Taxable
Selling: Capital (Non-taxable) vs Trading (Taxable)
Use to exchange for Goods and Services: Deductible if it is a qualifying business expense
GST applicable? No, for most circumstances
Utility Token
ICO (Issuance): Proceeds Taxable when Good/Service is delivered
Buying: Non-Taxable
Selling: Capital (Non-taxable) vs Trading (Taxable)
Use to exchange for Goods and Services: Deductible if it is a qualifying business expense
GST applicable? Yes
Security Token
ICO (Issuance): Proceeds Non-Taxable
Buying: Non-Taxable
Selling: Capital (Non-taxable) vs Trading (Taxable)
Use to exchange for Goods and Services: Deductible if it is a qualifying business expense
GST applicable? No
For Startups & SMEs
Investors selection and introduction
International Tax Risk Assessment
Regional Expansion Structuring
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