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Virtual currency not free from taxman

IRAS says Bitcoin transactions not exempt from GST nor income tax
Saturday, January 11, 2014 - 06:00

Singapore THE Bitcoin ecosystem might be taking baby steps in Singapore, but looks set to run up against the taxman where the goods and services tax (GST) and income tax are concerned, say Bitcoin pioneers here. While the Inland Revenue Authority of Singapore (IRAS) has not made any explicit

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