Back at home in Singapore, with our business-friendly environment, we continue to see the influx of the DT related businesses which has created an ever-growing ecosystem of blockchain platform developers, blockchain professional advisors and keen investors. To this end, various regulatory authorities including the Monetary Authority of Singapore, and the Inland Revenue Authority of Singapore (IRAS) have been on their toes constantly to ensure that our laws and regulations remain relevant and applicable to the blockchain industry.
Focusing on taxation matters for the blockchain industry, our domestic tax laws have been specifically updated for and IRAS has issued various guidelines on tax issues surrounding DTs. These guidelines have valiantly attempted to marry traditional tax principles and practice to the unique nature of DT related transactions, while having certain tax considerations left open to interpretation and application.
In this webinar, we will discuss the key Singapore tax considerations businesses engaging in DT related transactions should be aware of – these include but are not limited to source of income, timing of income taxation and GST matters. The takeaway for you will be a greater awareness of the DT related tax issues, and the importance of upfront planning to achieve better tax efficiency.