Good luck enforcing that.
And thank you SINGAPORE for being you.
Is singapore zero tax on crypto? or lower tax?
Zero for individuals. Zero for businesses not registered in Singapore. But the real plus is virtually no currency controls. You can take as much money into SG or out of SG as you want. The only * is that for cash, you need to declare over 20k SGD, but that is a non issue with crypto as crypto doesn't pass through customs anywhere.
hmmm nice. Wondering how to move to SG right now
Hint: you don't need to live in Singapore to enjoy its benefit. It's like you didn't need to live in Switzerland or Monaco to enjoy its benefits in the past (and still a good deal in the present). Just fly over, open some bank accounts (moderately easy: as long as you aren't from a third world country, just need a proof of address from your home bank; funds to deposit; and ID), open a few crypto exchange accounts (easy; however some require a local cell phone number... which is pretty easy to set up, you just need to remember to maintain it with local bill pay from your bank account). That's it, your funds now 'exist' in a place with no income tax on interest income.
Lol this is a good idea because I don't want to leave my country and migrate just for crypto currencies even if it's one of the most corrupt place in the world.
But I'm still hoping that crypto currencies will be widely appreciated and legalized by governments in different parts of the world even if they put some taxes for using it and make policies/rules and regulations it will be good for everyone.
