Forex Trading

[Yoongf]

"Capital Gains" is not taxable.

"Trading gains" is taxable.

 

If a person solely relies on this source of income, then is considered as trading gains. However, this definition is subject to IRAS determination.

 

For example, if a company buys an office space and occupies it, then this is considered as a capital asset. However, if the company buys office spaces and sells them regularly, then these office spaces are considered as "trading inventory", thus, any gains from trading these office spaces are taxable.

[Good-Carbuyer]

Do I need to pay income tax for profits earned from Forex Trading?

Yes, if its your main/only income.