Tax Is Not Virtual

Chong Mun Yew (Executive Director, Tax)

Given the size of the heist and the fact that it was committed digitally, this is worrying especially in today’s digital age! We are all familiar with the saying: There are only two things certain in life i.e. death and taxes, but can cryptocurrency escape taxes? Cryptocurrency creates many new headaches for regulators in respect of the legality and taxation of this new asset class.

This article seeks to examine the premise of Bitcoin, the very first widely accepted digital currency and its potential effect on the taxation industry. Continue reading >>>

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