The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on the tax treatment of Benefits Relating to Loans. The general tax treatment is summarized as follows:
- Interest benefits arising from interest-free or subsidized interest loans, e.g. housing loans, vehicle loans, computer loans and personal loans:
- employer provides the loan directly to the employee: Not taxable if the scheme is available to all employees, subject to the condition that the employees must not have subs…