On 30 September 2016, the Inland Revenue Authority of Singapore (IRAS) published an e-Tax guide on the treatment of certain expenses incurred prior to the commencement of a business activity. In particular, the guide covers the rules for the deduction of the following expenses: Pre-commencement expenses, which are deemed to be incurred on the actual date of commencement of the business activity, including: Costs for protecting Intellectual Property; Expenditure on research and development; Expenditure on renovation or refurbishment; and Design expenditure. Section 14U (s14U) expenses, which include expenses incurred on or after the deemed date of commencement but before the...