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TagsWhat are the tax implications for cryptocurrency traders in Singapore?
Houghton MathisMar 07, 2022 · 3 years ago1 answersI'm a cryptocurrency trader in Singapore, and I'm wondering what tax implications I should be aware of. Can you provide me with more information on the tax regulations and requirements for cryptocurrency trading in Singapore?
1 answers
- Cryptocurrency traders in Singapore should be aware of the tax implications. The Inland Revenue Authority of Singapore (IRAS) treats cryptocurrency as a form of property, and any gains from trading are subject to tax. If you hold your cryptocurrency for less than 3 years, the gains will be taxed at your marginal tax rate. However, if you hold it for more than 3 years, the gains will be tax-exempt. It's important to keep track of your trading activities and report your gains accurately to comply with the tax regulations in Singapore. If you have any further questions, feel free to ask!Mar 07, 2022 · 3 years ago
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