Singapore Publishes New and Updated e-Tax Guides on Taxation of Insurers and Entities Adopting Certain Financial Reporting Standards

On 21 October 2022, the Inland Revenue Authority of Singapore published new and updated e-Tax guides regarding changes in the taxation of insurers and entities in relation to the adoption of certain financial reporting standards (FRS). The Aim of each guide is summarized as follows:

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Income Tax: Income Tax Treatment Arising from Adoption of FRS 109 - Financial Instruments (Third Edition)

This e-Tax Guide provides guidance on the tax treatment for entities adopting FRS 109 or SFRS(I) 9…