Cryptocurrency Tax Singapore: Your Essential Guide
When dealing with cryptocurrency tax Singapore, the set of rules the Inland Revenue Authority of Singapore (IRAS) applies to crypto transactions, covering income tax, capital gains and GST. Also known as SG crypto tax, it shapes how traders, investors and businesses report their digital asset activity.
IRAS IRAS, Singapore's tax authority that enforces crypto tax compliance expects anybody earning crypto to treat it like any other income. If you receive crypto as payment, you must declare the fair market value in Singapore dollars as taxable income. For those who buy and sell for profit, the situation hinges on capital gains tax, tax on profit from disposing of assets, which Singapore currently does not levy on individuals. That means most retail traders enjoy tax‑free gains, but businesses that trade as part of their core activity may still face income tax on the profit. Another piece of the puzzle is GST, goods and services tax that can apply when crypto is used to purchase goods or services. If you provide services and accept crypto as payment, you need to account for GST on the transaction value.
Three semantic connections drive the compliance picture: (1) cryptocurrency tax Singapore encompasses income tax, capital gains tax, and GST; (2) IRAS requires crypto traders to report taxable income and keep records of every purchase, sale and exchange; (3) your tax residency determines whether you fall under individual or corporate tax treatment. For most Singapore residents, the key steps are: record the date, amount, and SG‑Dollar value of each crypto event; classify the activity as personal investment or business income; and file the figures in the annual tax return using the appropriate sections.
Below you’ll find a curated set of guides that walk through specific scenarios—from filing crypto earnings on your personal tax return to handling GST for merchants, and even tips on how to stay audit‑ready. Whether you’re a casual holder or a full‑time trader, the articles ahead break down the rules, share practical tools, and point out common pitfalls so you can stay compliant without the headache.
Singapore’s Zero Capital Gains Tax on Cryptocurrency Explained
Discover why Singapore imposes zero capital gains tax on cryptocurrency, how individuals and businesses are taxed, residency rules, and a comparison with other crypto‑friendly jurisdictions.