Singapore Aims to Tax Some Bitcoin Transactions
While some world governments are taking a hands-off approach when it comes to bitcoin, others are getting their hands right in there and seeing potential for additional revenue. News reports out indicate that the Singapore government is planning to tax a cut of some bitcoin transactions. Reportedly, companies registered in Singapore who exchange bitcoin for goods and services or buy/sell bitcoin are subject to being taxed, according to the Inland Revenue Authority of Singapore (IRAS) - the country's tax authority. On the other hand, companies who purchase bitcoin and hold for the long-term....
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