Lawrence Wong on tax on transaction sales revenue of non-fungible tokens
01:02 Min
The prevailing income tax rules will apply to income derived from transactions of non-fungible tokens (NFTs), said Finance Minister Lawrence Wong. Speaking in reply to an MP’s question in Parliament on Friday (Mar 11), he said the income tax treatment will be determined based on the nature and use of the NFT.
11 Mar 2022 12:36pm
The prevailing income tax rules will apply to income derived from transactions of non-fungible tokens (NFTs), said Finance Minister Lawrence Wong. Speaking in reply to an MP’s question in Parliament on Friday (Mar 11), he said the income tax treatment will be determined based on the nature and use of the NFT.
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