“Singapore-registered companies who buy and sell bitcoins or exchange the digital currency for other goods and services must pay taxes for these transactions, says the Inland Revenue Authority of Singapore (IRAS), Singapore’s tax authority.  The government’s stance towards the volatile cryptocurrency echoes countries like Germany, Norway, and the United Kingdom, all of which deemed Bitcoin taxable.  Companies that buy or sell bitcoins will have to declare taxes based on gains from their sale of the currency. However, if the company invests in Bitcoin for the long-term, all gains will be capital in nature and therefore not taxable. Singapore currently has no capital gains tax.”

http://www.techinasia.com/singapore-government-tax-bitcoin-transactions/

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