IRAS

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Document	Date	Subject
e-Tax Guide: Income Tax Treatment of Digital Tokens	17 April 2020; later editions	Payment, utility and security tokens; trading income v capital; ICO proceeds; airdrops and hard forks; mining and staking; Part M, Chapter I.
e-Tax Guide: GST: Digital Payment Tokens	19 November 2019; later editions	Exemption of DPT supplies from 1 January 2020; definition of a digital payment token; stablecoins and NFTs outside the exemption; Part M, Chapter III.
e-Tax Guide: Tax Treatment of Gains or Losses from the Sale of Foreign Assets (s 10L)	2023, revised 2024	Foreign-sourced disposal gains of entities without economic substance, including disposals of digital assets; Part M, Chapter II.
e-Tax Guide: Income Tax Treatment of Trading Gains of Companies and Individuals (badges of trade)	As amended	Badges of trade applied to crypto; Part M, Chapter II.
IRAS webpages: Tax treatment of digital tokens; Voluntary Disclosure Programme	Updated continuously	Summaries and penalty reductions on voluntary disclosure; Part M, Chapters I and VIII.
CARF implementation: IRAS consultation and guidance for reporting crypto-asset service providers	2025–2026	Singapore's commitment to CARF with first exchanges in 2027 or 2028; registration and reporting rules; Part M, Chapter VII.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of October 2026.

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Dr Alexander Ressos, TEP

Of Counsel, KGP Legal LLC

I am Of Counsel with KGP Legal LLC in Singapore, where I work with a global client base of successful entrepreneurs and their families, independent asset managers, commodity trading houses and other commercial clients. I am a German and Swiss attorney-at-law, also admitted as a solicitor in England & Wales and in Hong Kong. I divide my time between Zug in Switzerland, Singapore and Hong Kong. Since 2017 I have advised international clients on more than 700 crypto and digital asset projects. I also have extensive experience in cross-border litigation and arbitration in Singapore, Hong Kong and other markets in South-East Asia and Greater China.

I operate across the key financial centres in South-East Asia, the Middle East and Switzerland, with a particular focus on asset protection, international tax and estate planning, as well as trusts, company administration and other fiduciary services. My philosophy is to serve as a trusted advisor working closely with my clients and to help them achieve their commercial objectives.

All Singapore law advice is provided through KGP Legal LLC, an established and duly licensed firm of Singapore advocates and solicitors.

KGP Legal LLC is a medium-sized law firm in Singapore that is capable of providing the full range of legal services and corporate administration work. Please contact me if you need any further information.

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SingaporeIQ is edited by Dr Alexander Ressos, an international business lawyer with more than 15 years of local experience in Singapore as a permanent resident, a Singapore registered foreign lawyer and managing partner of a Singapore foreign law practice. In addition to significant experience in cross-border investments and transactions, UHNWI private client work and sanctions/export controls, Dr Ressos has extensive experience in cross-border business and in crypto and digital-asset projects in Singapore, drawn from more than 700 projects since 2017.

If you are planning a company incorporation, an investment, a holding structure or a market entry through Singapore, you can reach Dr Ressos directly at [email protected]. Singapore law advice is provided by KGP Legal LLC, a licensed firm of Singapore advocates and solicitors. Dr Ressos and his team facilitate the full range of Singapore legal, compliance and company administration services, including company incorporation, corporate transactions, commercial contracts, crypto and digital assets, financial regulatory work and dispute resolution, including litigation in the Singapore courts. For Hong Kong, our parallel site HongkongIQ.com offers the same practical guidance. For crypto and digital assets, dltreg.com covers legal, tax and fiduciary services. For legal, tax and fiduciary services in Switzerland, see helveticaregister.com.