The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on the tax treatment of Business Expenses, with the addition of new guidance on Green Certificates and Green Credits (GCCs). In connection with the new guidance, the previous guidance on carbon credits has been removed, as it is now covered under the tax treatment of GCCs.
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Green Certificates and Green Credits (GCCs)
Prior to Year of Assessment (YA) 2026, tax deductions are only allowed for expenditure incurred…