A Practical Guide to Cryptocurrency in Singapore: From a Tax Perspective

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Description

The live session will be held at the Sheraton Towers, 39 Scotts Road, Singapore

This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please select accordingly at registration.

This is the AM session of our one-day workshop.

Cryptocurrency has gained prominence over the last few years, becoming increasingly accepted as part of commerce.

This seminar will address tax issues concerning gains from cryptocurrency and losses following the most recent TerraUSD and Terra (Luna) crash. It will also discuss IRAS’ recent e-tax guides on digital payment tokens.

In this seminar, expert speaker Hern Kuan will outline tax issues surrounding cryptocurrency, including the tax implications from the perspective of coin issuers, investors, employers, employees, miners, forgers and so on.

This unique workshop format offers you the choice to attend either the AM, PM or one-day session.

PM Session: A Practical Guide to Cryptocurrency in Singapore: From an Accounting Perspective click here.

One-day Session: A Practical Guide to Cryptocurrency in Singapore: From a Tax and Accounting Perspective, click here.

By attending the one-day session, you get to enjoy greater savings and buffet lunch will be provided. Register NOW!

Programme Outline

Cryptocurrency Tax Implications

• Income Tax
• How income tax is imposed on crypto gains
• Tax treatment of cryptocurrency losses
• Specific tax treatment of payment tokens, utility tokens & security tokens
• Income tax from the perspective of a coin issuer, investor, employer/employee, miner/forger
• Goods and Services Tax (GST)
• GST treatment of digital payment tokens & non-digital payment tokens
• GST liabilities from the perspective of a customer, miner, token intermediary and so on

Q&A

 

Practice Area: Tax

Training Level: General

3 Public CPD Points for SILE-Legal professionals / 3.5 CPE Hours for non-legal professionals

SILE ATTENDANCE POLICY: Participants who wish to obtain CPD Points are reminded that they must comply strictly with the Attendance Policy set out in the CPD Guidelines. For participants attending the face-to-face activity, this includes signing in on arrival and signing out at the conclusion of the activity in the manner required by the organiser, and not being absent from the activity for more than 15 minutes. For those participating via the webinar, this includes logging in at the start of the webinar and logging out at the conclusion of the webinar in the manner required by the organiser, and not being away from the activity for more than 15 minutes. Participants who do not comply with the Attendance Policy will not be able to obtain CPD Points for attending the activity. Please refer to https://www.silecpdcentre.sg for more information.

What you will learn

• Taxability of cryptocurrency gains and tax deductibility of cryptocurrency losses;
• Learning the income tax and GST treatment of the different types of cryptocurrencies from the perspective of a coin issuer, investor, employer, employee, miner, forger, customer, digital payment token intermediary and so on

Target Audience

• Tax practitioners
• Finance practitioners
• Accountants
• Commercial Directors
• Lawyers

Expert Speaker

Liu Hern Kuan
Director, Head of Tax, Insights Law LLC

Hern Kuan has wide experience in Revenue Law, having lectured in it at the Law Faculty in NUS, practiced as a tax manager in Big-4 accounting firms and as head of tax in a major law firm. He was also the Chief Legal Officer of the Inland Revenue Authority of Singapore (IRAS) for 10 years.

Hern Kuan’s tax practice is largely focused on civil and criminal disputes with IRAS and tax planning and structuring, both domestic and international tax.

He has presented many seminars on tax law and was an associate staff lecturer on tax planning and international tax at SUSS.