On 25 January 2021, the Inland Revenue Authority of Singapore (IRAS) published an updated e-Tax Guide on Ascertainment of Income from the Business of the Making of Investments (Third Edition). The guide provides details on how income from the business of the making of investments is determined based on the provisions of section 10E of the Income Tax Act (ITA) and explains the tax treatment in certain scenarios. The guide has been updated to provide clarity on the tax treatment of section 10E…