Singapore Publishes Revised e-Tax Guide on the Tax Treatment of Leases Arising from Adoption of Financial Reporting Standards

The Inland Revenue Authority of Singapore has published a revised e-Tax Guide, Tax Treatment Arising from Adoption of Financial Reporting Standard 116 or Singapore Financial Reporting Standard (International) 16 - Leases. The e-Tax guide provides guidance on tax treatment for entities adopting Financial Report Standard 116 or Singapore Financial Reporting Standard (International) 16 (FRS 116 / SFRS(I) 16) and is relevant for taxpayers required to comply with the requirements in FRS 116 / SFR…