If you’ve ever typed “do I pay tax on crypto in Singapore?” into Google, you’re not alone. This up‑to‑date guide distils the Singapore crypto regulations 2025 investors need to understand before they swap, stake, or mine digital assets. And yes, when you exchange ETH to BTC or cash out gains, some rules still apply — “tax‑free” doesn’t mean “rule‑free.”
Is Crypto Legal in Singapore?
Yes. Digital assets are legal under the Payment Services Act (PSA), and major exchanges operate under Monetary Authority of Singapore (MAS) licences. Singapore treats most coins (e.g., BTC, ETH, XMR) as digital payment tokens, whose supply is exempt from Goods & Services Tax (GST).
Tax Categories for Crypto
Although there is no capital‑gains tax for individuals, income‑type activities are taxable.
Trading
Whether IRAS sees you as a casual investor or a business‑like trader will decide your tax bill.
- Investor (long‑term): Buy‑and‑hold gains are not taxed.
- Trader (business‑like): High‑frequency or professionally organised trading is taxed as ordinary income (0 – 24% progressive resident rates in 2025).
Staking
Staking rewards count as income once they cross a modest threshold.
- Staking rewards over SGD 300 per year are treated as taxable income. Keep a ledger of market value when tokens are received.
Mining
Mining can be a hobby (tax‑free) or a business (taxable).
- Hobby mining: usually tax‑exempt.
- Commercial mining or node operation: profits taxed as business income; electricity and hardware may be deductible.
Reporting Requirements
Before filing season, be sure you know how to declare crypto in Singapore — the crypto tax rules Singapore applies are clear but unforgiving to late filers.
| Who files | Deadline (YA 2025) | How to file |
| Individuals & sole‑props | e‑Filing: 18 Apr 2025 (paper: 15 Apr) | myTax Portal > Form B/B1 |
| Companies | 30 Nov 2025 for Form C‑S/C | CorpPass > IRAS |
| GST‑registered businesses | Quarterly GST returns at 9% | Form 5 |
Crypto transactions must be grouped as (1) investment disposals, (2) income (trading, staking, mining), and reported in the “Other Income” section if taxable.
How to Calculate Taxes
Classify, convert to SGD, apply a cost‑basis method — repeat.
- Classify each event
- Disposals: sales, swaps, spending coins
- Income: rewards, fees, business trading profits
- Determine fair‑value in SGD at the time of the event (IRAS accepts major‑exchange spot rates).
- Apply cost‑basis method (FIFO is common; wallet‑by‑wallet allowed).
- Sum net income and slot into the correct line of Form B/B1 (individual) or Form C‑S (company).
(Need market data? See the live Bitcoin price today page.)
Tips to Stay Compliant
A few habits now will save headaches at audit time.
- Keep separate wallets for long‑term holds and frequent trading to prove intent.
- Export exchange CSVs quarterly; Germany’s ten‑year record‑keeping rule applies.
- Log euro values the instant staking or mining rewards hit your wallet.
- Businesses must charge 19 % VAT on crypto‑related services unless an exemption applies.
- Compare rules abroad — see: “Can You Exchange BTC Without KYC?” for cross‑border privacy pitfalls.
Summary
Here’s the big picture for the 2025 assessment year.
- Legal status: Crypto is legal and regulated under the PSA.
- Taxes:
- No capital‑gains tax for individual investment disposals.
- Business‑like trading, staking rewards, and commercial mining create tax on crypto income at resident rates (0 – 24%).
- GST on crypto service fees is 9%, but swaps of digital‑payment tokens are GST‑exempt.
- Compliance: Declare taxable crypto income by 18 Apr 2025 (individuals) and keep detailed records.
- Risk‑reduction: Separate personal and business wallets, log SGD values, and stay updated on MAS guidance.
Follow these guidelines and you can navigate crypto taxes in Singapore confidently—no nasty surprises from IRAS.