Crypto Holders Fearing Singapore Tax Hit Are Left in the Dark

Singapore famously ranks among the small number of countries that don’t impose a capital gains tax. But that doesn’t mean that profits booked on crypto-asset transactions there won’t be taxed.

It isn’t clear, however, what tax applies to digital asset transactions, because the Inland Revenue Authority of Singapore hasn’t provided detailed guidance.

Some tax experts suggested that the authorities might have chosen a policy of constructive ambiguity, deliberately keeping crypto taxation in a gray area and maintaining a neutral stance, because they are wary of the crypto business but don’t want to drive it away, either.

Singapore isn’t alone. Regulators ...