Singapore Publishes Guide on Treatment of Expenses Incurred Prior to Commencement of Business

On 30 September 2016, the Inland Revenue Authority of Singapore (IRAS) published an e-Tax guide on the treatment of certain expenses incurred prior to the commencement of a business activity. In particular, the guide covers the rules for the deduction of the following expenses:

• Pre-commencement expenses, which are deemed to be incurred on the actual date of commencement of the business activity, including:
  • Costs for protecting Intellectual Property;
  • Expenditure on research and development;
  …