Quote from: blacklionfounder on February 13, 2017, 11:06:26 AM

https://www.iras.gov.sg/irashome/GST/GST-registered-businesses/Specific-business-sectors/e-Commerce/

Buying Goods or Services Using Virtual Currencies
When you use virtual currencies to pay for goods or services, the transaction will be considered as a barter trade.

There are two supplies made - one by the supplier who supplies the goods and services, and another by you who use virtual currencies to pay the supplier.

GST will need to be charged on each supply if the respective supplier is GST-registered.

However, if you use virtual currencies to pay a supplier belonging outside Singapore, you need not charge GST as the supply will be zero-rated.

As a concession, if you use virtual currencies to buy virtual goods or services within the gaming world, you need not charge GST until they are exchanged for real monies, goods or services.

Edit: Another URL: http://www.moneysense.gov.sg/Understanding-Financial-Products/Investments/Consumer-Alerts/Virtual-Currencies.aspx

TL;DR
Tax treatment for GST registered Exchanges (>1m revenue) is if a Buyer is registered in Singapore, VAT/GST is applicable.

Hi... Thank you for your well thought-out response.

I would most likely be a passive investor so you would have to lead from the front - which may most importantly include raising additional funds in return for "further" dilution of your 85% equity . I have thought this through - If you have too, please pm me and we can discuss this further. No point in laying out the entire business plan here as there are too many trolls on here.

Please be willing to incorporate the exchange in Seychelles like BitMEX did. I am thinking longterm here - like being profitable or breaking even in 2-3 years ... ( implying 2-3 years no salary or steady stream
of income ).

I have ideas on how to automate the whole end to end process but I am willing to discuss this only with the right person after having discussed how to sign the legal paperwork. Willing to take a bank loan or collateral or rise further funds under my name if we have a prototype ready with a decent customer base after 6 months and if I come across the right CEO or leader material - who is fine with taking over the entire end to end process in return for equity. CEO does not have to be full-time job and certainly wont be getting a full pay-check. It all depends on how much work is involved, how much of the process can be automated and how much of it can be a One man show.