Legal Issues and Trends in the Singapore Crypto Scene
— Fixed amount, Imposing rules, Businesses need, Portfolio, Different pieces, Conditions provide, Generally, Income tax treatment, Aware, Ultimately deemed property — 1 min read
Singapore has become a popular destination for new and existing cryptocurrency funds. LawFlash spotlights trends and legal issues that companies should be aware of when looking to set up cryptocurrency funds or businesses in this area. Singapore does not have a capital gains tax, but only income gains of nature are taxable in Singapore. Singapore investors should be mindful of the potential tax liability that may arise. Singapore is underpinned by the income tax/capital distinction, underpinning an underpinned tax-free distinction, but it does not necessarily mean that it will be regarded as a gain of a capital gain in capital value (and hence non-taxable) Relevant factors such as length of holding and frequency of transactions are typically considered, such as the remuneration of digital tokens are typically Source