Crypto transactions may be exempted from GST in Singapore, crypto community reacts

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Singapore government's tax collection organization has proposed to end GST (products and ventures charge) tax assessment on crypto exchanges that capacity or plan to fill in as a mechanism of trade. An e-Tax draft guide was distributed by The Inland Revenue Authority of Singapore (IRAS) in regards to the treatment on what it alludes to as "Advanced Payment Tokens," proposing a conclusion to GST liabilities for any element managing such computerized resources.


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