PricewaterhouseCoopers: Singapore's move to abandon sales tax on digital payment tokens will stimulate innovation in the blockchain sector

According to PricewaterhouseCoopers (PwC) analysis, the Singapore government's proposal to exempt sales tax on digital payment tokens may benefit cryptocurrency exchanges, asset management companies and blockchain entrepreneurs. Gwenda Ho, a tax business partner at PricewaterhouseCoopers Hong Kong, said that a 7% GST would make Canada a tax-friendly jurisdiction for cryptocurrencies, and the move would stimulate entrepreneurs in blockchain services. And more innovation in the solution area.