Employment or other income (affects marginal tax rate)
Gross Gain
$30,000.00
Tax on Gain
$2,550.00
Net Proceeds
$27,450.00
Effective Tax Rate
8.5%
ROI
150.0%
IRAS may treat frequent crypto trading as a business activity, making gains taxable as income at your marginal rate.
Crypto Tax in Singapore
Singapore does not have a capital gains tax. Gains from the disposal of cryptocurrency as a personal investment are generally not taxable. However, if you trade cryptocurrency as a business or derive income from it, the gains are treated as taxable income under IRAS guidelines and taxed at progressive rates (0% to 22%).
When Is Crypto Taxable?
IRAS considers cryptocurrency gains taxable if you are carrying on a trade or business of buying and selling digital tokens. Indicators include frequency of transactions, holding period, purpose of acquisition, and whether it is your main source of income. Payment tokens received as salary or for services rendered are always taxable.
GST on Crypto
From 1 January 2020, digital payment tokens (like Bitcoin and Ethereum) are exempt from GST in Singapore. This means the exchange of digital payment tokens for fiat or other tokens is not subject to GST.
IRAS-Aligned: Uses YA 2025 Singapore progressive tax rates. This calculator assumes gains are taxable if trading is selected. Consult a tax professional for complex crypto portfolios.
How IRAS treats cryptocurrency gains, trading income, and digital payment tokens
Does Singapore tax profits from selling cryptocurrency?
It depends on whether the gains are capital or revenue in nature. Singapore has no capital gains tax, so if you buy and hold crypto as a long-term investment and sell it later, the profit is generally not taxable. However, if you trade crypto frequently as a business, IRAS treats the profits as trading income and taxes them at normal progressive rates.
How does IRAS decide if your crypto gains are taxable?
IRAS looks at several factors: how often you trade, how long you hold before selling, whether you have a trading plan, and whether crypto trading is your main source of income. If you buy Bitcoin once, hold it for two years, and sell, that is likely capital. If you make dozens of trades each week trying to profit from price swings, IRAS may treat it as a trade.
Is crypto mining taxed in Singapore?
If you mine crypto as a hobby, the tokens you receive are generally not taxable. But if mining is a regular business activity — you invest in hardware, pay for electricity, and sell mined tokens regularly — the income is taxable as trade income. You can deduct mining expenses like equipment and power costs from your assessable income.
What about crypto received as payment for work?
If you receive cryptocurrency as payment for goods or services, IRAS treats it as income. You must declare the market value of the tokens in Singapore dollars on the day you received them. For example, if a client pays you 0.5 ETH worth S$1,500 for a project, you report S$1,500 as income on your tax return.
Do you need to pay GST on crypto transactions?
Since 1 January 2020, digital payment tokens like Bitcoin and Ethereum are exempt from GST in Singapore. This means you do not charge or pay 9% GST when buying, selling, or using these tokens for payment. However, if you provide crypto-related services (like running an exchange), those services may still attract GST.
How do you report crypto income to IRAS?
Report taxable crypto income in your annual tax return under trade income (Form B for self-employed) or other income. Keep detailed records of every transaction — date, type of token, amount, price in SGD, and the wallet or exchange used. IRAS does not require you to report non-taxable capital gains, but keeping records protects you if IRAS asks questions.
Are airdrops and staking rewards taxable?
Airdrops received without any effort are generally not taxable. But if you receive tokens through staking, liquidity mining, or yield farming as part of a regular activity, IRAS may treat the rewards as taxable income. The key question is whether you are doing it as a business or hobby. Declare the SGD value of any rewards you believe are taxable.
IRAS-Aligned: Based on 2025 IRAS rates and thresholds. For personal advice, speak to a qualified tax professional.
Disclaimer: This calculator provides estimates based on current HMRC rates and thresholds for the 2025/26 tax year. It does not constitute professional tax, financial, or legal advice. Your actual liability may differ depending on your individual circumstances. Always consult a qualified accountant or tax adviser before making financial decisions. Read our terms
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