Singapore Bitcoin Taxation Update: IRAS Circular, Virtual Currencies for Virtual Goods and Services in Games NO GST until real

Update: new rules AMLTF bitcoin intermediary regulations incoming for singapore h/t xr emphasis added #sale_of_virtual_currency Sale of virtual currency New! Virtual currencies ( Bitcoins) are not considered as ‘money’, ‘currency’ or ‘goods’ for GST purposes. Instead, the supply of virtual currency is treated as a supply of services, which does not qualify for GST exemption. Businesses that buy goods or services using virtual currencies If you use virtual currencies to pay for goods or services, the transaction will be considered as a barter trade. There are two supplies…
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CCTV (china central television) international covers Bitcoin takeup in Hong Kong (it’s in english)

It's in English, since its the international channel for CCTV Talks about Hong Kong trying to become bitcoin capital of the world despite restrictions in Mainland. A guzheng academy that takes bitcoins in the eastern part of HK. Customers in Silicon Valley. 15%-20% to become 30% of her takings, to her bitcoin is quick, no fees, and very convenient Interviews another person doing a bitcoin trading platform, phd and degree in engineering. Cloud system stores data in US. Talks about mainland restrictions, such as alibaba. Talks about the…
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Singapore releases MONEYSENSE Advisory on Bitcoins, Features Litecoin, namecoin

Singapore has been quite active in its bitcoin advisory and guidance of late! (singapore bitcoin double taxation, IRAS on virtual currency, MAS) good to see litecoin being mentioned too! (they also mention namecoin, they also talk about cvcs such as liberty reserve) Virtual Currencies What are virtual currencies and their purposes? Virtual currencies (“VCs”) are non-physical stores of value that can be exchanged for goods and services at places that accept them. For instance, one may be able to use VCs as payment at online stores and even…
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Litecoin: LLnSyo8rqbJng11b3whVUXSr6nWMtmT1zU
Bitcoin: 158MikZVM8yQviLcvxu1aahTysSxDUaePr