Reporting framework, corporate tax and individual tax treatment for digital assets in Singapore, from CryptaCount's jurisdiction database covering 72 countries.
Singapore: tax & reporting data
General Information
Default Framework
IFRS
Permitted Frameworks
SFRS_I
IFRS Mandatory For
All listed entities. SFRS(I) = IFRS-converged.
Tax Year
Calendar Year (end M12)
Functional Currency
SGD
FX Source (Reporting)
MAS
FX Source (Tax)
IRAS
Transaction Rate
Daily Spot
Hyperinflationary
✗ No
Reporting — SFRS_I
Framework Available
✓ Yes
Crypto Classification
Intangible Asset, Inventory
Classification Notes
IAS 38 intangible (most common); IAS 2 inventory if held for sale in ordinary course. No dedicated IFRS crypto standard.
Measurement Basis
Historical Cost
Fair Value (Revaluation)
Permitted Cost Methods
FIFO, WAVG, Specific ID
Prohibited Cost Methods
LIFO
Impairment Required
✓ Yes
Impairment Type
IAS 36
Reversal Allowed
✓ Yes
NRV Write-down
✗ Not required
Fair Value Hierarchy
Level 1
Recent Standards
No dedicated IFRS crypto standard. IFRIC agenda decision (2019) confirmed IAS 38/IAS 2. IASB crypto project in pipeline, no ED yet. SFRS(I) is identical to IFRS with Singapore-specific guidance.
Corporate Tax — Rate & Classification
Corporate Tax Rate
17%
Crypto Classification
Ordinary Income
Notes
No CGT in Singapore. Trading gains = income. Investment gains = capital (exempt).
Corporate Tax — Cost Basis
Measurement Basis
Historical Cost
Default Cost Method
FIFO
Permitted Methods
FIFO, WAVG
Taxpayer Can Elect
✓ Yes
Country Override
BADGES OF TRADE
Override Notes
Singapore uses 'badges of trade' test to distinguish income vs capital. Investment gains = not taxable.
LIFO Conformity Req.
✗ No
Differs from Reporting
✗ No
Corporate Tax — Anti-Avoidance
Wash Sale
✗ Off
Window (before/after)
—
Same-Day Rule
✗ No
Loss Restriction
Unrestricted
Loss Carryforward
Unlimited
Corporate Tax — Holding Period
Holding Period Benefit
✗ No
Period
—
Benefit Type
—
Corporate Tax — Crypto Event Treatment
Staking Rewards
FMV at Receipt
Gas Fee Treatment
Add to Cost
Gas = Disposal of Native
✓ Yes
Crypto↔Crypto Taxable
✓ Yes
DeFi Wrapping
Unclear
Fork Cost Basis
Zero
Individual Tax — Regime
Tax Regime
Exempt
Regime Notes
No CGT in Singapore. Crypto gains from investment = capital in nature = not taxable. Trading/business income is taxable.
Tax Rate
0% (exempt)
Rate Notes
0% on capital gains. Business income: progressive up to 22%.
Individual Tax — Cost Basis
Measurement Basis
Historical Cost
Cost Method
FIFO
Method Electable
✓ Yes
Permitted Methods
FIFO, WAVG
Country Override
BADGES OF TRADE
Individual Tax — Exemptions
CGT Exempt
✓ Yes
Exempt Conditions
No CGT. Badges of trade test applies — investment gains exempt, trading income taxable.
Holding Period
—
HP Benefit
—
Annual Exemption
—
Threshold Exemption
—
Individual Tax — Anti-Avoidance
Wash Sale
✗ Off
Same-Day Rule
✗ No
Superficial Loss
✗ No
Loss Restriction
Unrestricted
Loss Carryforward
Unlimited
B2C vs B2B Differences
Differs from B2B
✗ No
Notes
Same regime: no CGT. Badges of trade test applies for both.
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