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

On 31 October 2023, the Inland Revenue Authority of Singapore published updated e-Tax guides regarding changes in the taxation of entities and insurers in relation to the adoption of certain financial reporting standards (FRS).

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

This e-Tax Guide provides guidance on the tax treatment for entities adopting FRS 109 or SFRS(I) 9. It will be relevant to you if you are required to co…