Singapore Publishes Updated E-Tax Guide on Treatment of Foreign Exchange Gains or Losses

The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax guide on the tax treatment of foreign exchange gains or losses for businesses. The guide summarizes the treatment as follows:
- Capital foreign exchange differences - Not taxable or deductible;
- Revenue foreign exchange differences - All exchange differences recognized in the profit and loss account are taxable or ded…