Individual Income Tax Treatment of Digital Tokens

With the widespread creation and trading of digital tokens and cryptocurrencies, their tax treatment has become a grey area in tax legislations as most of them do not explicitly provide for the complexities around digital tokens and cryptocurrencies. The IRAS has released a tax guide on the income tax treatment of digital tokens and cryptocurrencies where there are individual tax implications of transactions involving digital tokens, including businesses carried on by individuals. Download the tax alert to learn more.