Crypto Tax Singapore: What You Need to Know About Taxes on Crypto Gains

When you trade, sell, or earn cryptocurrency in Singapore, a jurisdiction that treats crypto as property, not currency, for tax purposes. Also known as digital asset taxation, it’s one of the few places where you don’t pay capital gains tax on crypto—if you’re not trading frequently. That’s the big exception. Most countries tax your profits. Singapore doesn’t… mostly.

Here’s what actually matters: if you’re holding crypto as a long-term investment, you won’t pay tax when you sell. But if you’re day trading, running a crypto business, or earning crypto as income (like from staking, airdrops, or mining), the Inland Revenue Authority of Singapore (IRAS) sees that as taxable. The IRAS, Singapore’s tax authority that enforces crypto reporting rules. Also known as Inland Revenue Authority of Singapore, it doesn’t care about your wallet address—it cares about your behavior. Trade like a business? You owe income tax. Hold for years? You’re fine.

Staking rewards? Taxable as income when you receive them. Airdrops? Taxable too, based on their value at the time you get them. Even swapping one crypto for another counts as a disposal, and if you’re doing it often, IRAS may treat you as a trader. That’s where people get tripped up. You don’t need to file a crypto-specific form, but you must report crypto income in your annual tax return under "other income." Keep records: dates, amounts, values in SGD at time of transaction. No receipts? IRAS won’t care about your memory.

And no, you can’t avoid tax by moving to Singapore just to escape crypto taxes. You have to be a tax resident. That means living here for 183 days or more a year, or working here permanently. Tourists and expats on short-term passes don’t get the tax break—they’re taxed on income earned locally, including crypto.

What’s missing from most guides? The gray areas. If you mined crypto using home electricity, IRAS might still ask for proof of cost basis. If you received crypto from a fork, you need to track its value on the day it hit your wallet. And if you lost coins to a hack or scam? Too bad—no deduction allowed. Singapore doesn’t let you write off crypto losses like the U.S. does.

Below, you’ll find real cases: failed projects that promised airdrops, exchanges that vanished, and tokens that turned to dust. Some of these were bought by people trying to get rich quick. Others were earned through staking or trading. The one thing they all have in common? They left trails on tax returns. Whether you’re holding, trading, or just curious—you need to know what counts as income, what doesn’t, and how to prove it. This isn’t about avoiding tax. It’s about not getting hit with a bill you didn’t see coming.