Is crypto taxed in Singapore?｜, making it a crypto tax free country. However, Singapore applies an 8% goods and services tax to fees when you purchase, sell, or convert crypto, for instance, on a centralized exchange.Singapore has no capital gains tax for individuals not engaged in regular trading or business activity with crypto

Is crypto taxed in Singapore? It's a question that many crypto enthusiasts and investors in the region often ponder. While Singapore is often touted as a crypto tax-free country, the truth is a bit more nuanced. Firstly, let's clarify that Singapore does not levy a capital gains tax on individuals who are not regularly trading or engaged in business activities with cryptocurrencies. This is a significant benefit for individuals who invest in crypto for the long-term. However, it's important to note that Singapore applies an 8% goods and services tax (GST) to fees when purchasing, selling, or converting crypto assets, such as transactions made on centralized exchanges. This means that while you may not be taxed on the profits you make from crypto trading, you will still be subject to GST on the fees associated with those transactions. So, to answer the question, crypto is not taxed in Singapore in terms of capital gains for individuals not engaged in regular trading or business activities. But there is an 8% GST on fees associated with crypto transactions. This distinction is important for crypto investors and traders in Singapore to understand when planning their tax obligations.