Singapore wants to drop VAT for transacting in cryptocurrencies
The Inland Revenue Authority of Singapore (IRAS) may drop value-added taxes from cryptocurrency transactions, according to CoinTelegraph. The draft e-tax change would go into effect Jan. 2020 but would only include tokens the IRAS deems medium of exchanges. Under the draft, stablecoin transactions would continue to be taxed.
Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.