The Inland Revenue Authority of Singapore published new guidance on 31 March 2022 regarding the tax treatment of interest, gains or profits derived from negotiable certificates of deposit by non-financial institutions. --- Tax Treatment of Interest, Gains or Profits Derived from Negotiable Certificates of Deposit by Non-Financial Institutions Where a non-financial institution (non-FI) derives interest from a negotiable certificate of deposit (NCD) or derives gains or profits from the sale thereof, the amount of taxable income derived must be computed based on the rules prescribed under Section 10(12) of the Income Tax Act 1947. This is notwithstanding the adoption of...