Singapore Recognizes Bitcoin and Gives Tax Guidance

Bitcoinpro

legendary

Activity: 1358

Merit: 1000

Quote from: Dodgers on January 08, 2014, 10:26:06 AM

Quote from: Bitcoinpro on January 08, 2014, 10:23:06 AM

Quote from: Dodgers on January 08, 2014, 10:19:54 AM

Quote from: Dafar on January 08, 2014, 10:03:09 AM

I hope Hong Kong follows too, it would make sense for China to be cautious about bitcoin for now but allow HK to be the forefront of this tech and see how it plays out.

I'd love to work in a bitcoin startup for a few years in Singapore or HK

We have a thriving BTC community out here, and Singapore only narrowly lost out to HK in receiving the first ATM.

I also know a few people that are making some big in-roads into Macau... considering the 17million Chinese mainlanders that come each year to "speculate" at the casino's..... this could be very interesting.....

what are the fees for the ATM's and the price margin from the exchanges

From what I understand the fees are set by the operators of the ATMs.. I spoke briefly with Jordan (CEO of Robocoin), But if you are genuinely interested i can send you the information I have.

everyone is interested transferring money of exchanges is not cheap or fast

David-M

member

Activity: 106

Merit: 10

Thanks for posting the link.

I certainly don't want to come across as a tax expert and was careful not to give advice!!!
That's why I posted the emails sent to me from IRAS. Perhaps I should make it clear that the summary of email is the IRAS actual emails.

My original press release is here:
http://coinrepublic.com/singapore-tax-authorities-iras-recognize-bitcoin-and-gives-guidance/

David

Dodgers

newbie

Activity: 49

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Quote from: Bitcoinpro on January 08, 2014, 10:23:06 AM

Quote from: Dodgers on January 08, 2014, 10:19:54 AM

Quote from: Dafar on January 08, 2014, 10:03:09 AM

I hope Hong Kong follows too, it would make sense for China to be cautious about bitcoin for now but allow HK to be the forefront of this tech and see how it plays out.

I'd love to work in a bitcoin startup for a few years in Singapore or HK

We have a thriving BTC community out here, and Singapore only narrowly lost out to HK in receiving the first ATM.

I also know a few people that are making some big in-roads into Macau... considering the 17million Chinese mainlanders that come each year to "speculate" at the casino's..... this could be very interesting.....

what are the fees for the ATM's and the price margin from the exchanges

From what I understand the fees are set by the operators of the ATMs.. I spoke briefly with Jordan (CEO of Robocoin), But if you are genuinely interested i can send you the information I have.

Bitcoinpro

legendary

Activity: 1358

Merit: 1000

Quote from: Dodgers on January 08, 2014, 10:19:54 AM

Quote from: Dafar on January 08, 2014, 10:03:09 AM

I hope Hong Kong follows too, it would make sense for China to be cautious about bitcoin for now but allow HK to be the forefront of this tech and see how it plays out.

I'd love to work in a bitcoin startup for a few years in Singapore or HK

We have a thriving BTC community out here, and Singapore only narrowly lost out to HK in receiving the first ATM.

I also know a few people that are making some big in-roads into Macau... considering the 17million Chinese mainlanders that come each year to "speculate" at the casino's..... this could be very interesting.....

what are the fees for the ATM's and the price margin from the exchanges

Dodgers

newbie

Activity: 49

Merit: 0

Quote from: Dafar on January 08, 2014, 10:03:09 AM

I hope Hong Kong follows too, it would make sense for China to be cautious about bitcoin for now but allow HK to be the forefront of this tech and see how it plays out.

I'd love to work in a bitcoin startup for a few years in Singapore or HK

We have a thriving BTC community out here, and Singapore only narrowly lost out to HK in receiving the first ATM.

I also know a few people that are making some big in-roads into Macau... considering the 17million Chinese mainlanders that come each year to "speculate" at the casino's..... this could be very interesting.....

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

well done david!

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

I hope Hong Kong follows too, it would make sense for China to be cautious about bitcoin for now but allow HK to be the forefront of this tech and see how it plays out.

I'd love to work in a bitcoin startup for a few years in Singapore or HK

Dodgers

newbie

Activity: 49

Merit: 0

Quote from: eatrader on January 08, 2014, 09:45:40 AM

Singapore again leads the region into new technology. In a press release today, David Moskowitz (owner of Coin Republic) explains that his company received very positive news from Singapore’s tax authorities (IRAS) pertaining to the guidance on handling “capital gains, earnings, and even GST (sales tax) on bitcoin exchanges and bitcoin related sales.”

http://www.cryptocoinsnews.com/2014/01/08/sinagapore-recognizes-bitcoin-gives-guidance/

David is actually very well known in the Bitcoin world in Singapore.
I have used Coin republic a few times, and David is a good guy

Bitcoinpro

legendary

Activity: 1358

Merit: 1000

Quote from: eatrader on January 08, 2014, 09:45:40 AM

Singapore again leads the region into new technology. In a press release today, David Moskowitz (owner of Coin Republic) explains that his company received very positive news from Singapore’s tax authorities (IRAS) pertaining to the guidance on handling “capital gains, earnings, and even GST (sales tax) on bitcoin exchanges and bitcoin related sales.”

http://www.cryptocoinsnews.com/2014/01/08/sinagapore-recognizes-bitcoin-gives-guidance/

likley given by someone unqualified to make the statements

eatrader

full member

Activity: 182

Merit: 100

The Crypto Analyst

Singapore again leads the region into new technology. In a press release today, David Moskowitz (owner of Coin Republic) explains that his company received very positive news from Singapore’s tax authorities (IRAS) pertaining to the guidance on handling “capital gains, earnings, and even GST (sales tax) on bitcoin exchanges and bitcoin related sales.”

http://www.cryptocoinsnews.com/2014/01/08/sinagapore-recognizes-bitcoin-gives-guidance/

Topic: Singapore Recognizes Bitcoin and Gives Tax Guidance (Read 861 times)