Singapore wants to end GST tax for cryptocurrencies

Singapore wants to end GST tax for cryptocurrencies

Singapore plans to exempt cryptocurrencies from Goods and Services Tax (GST), the local equivalent of Value-Added Tax (VAT). The news was revealed in a draft e-tax guide published by the Inland Revenue Authority of Singapore (IRAS) on July 5. The proposed exemption, if accepted, is set to take effect on January 1, 2020, and will overhaul the current system.

Timothy
Timothy
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