The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax guide, Certainty of Non-taxation of Companies' Gains on Disposal of Equity Investments (Third Edition). The guide provides details on the tax measure to give upfront certainty of non-taxation to companies that derive gains from the disposal of equity investments and is relevant to a company (divesting company) that disposes of investments in ordinary shares of another company (investee company) on or after 1 June 2012. One of the main updates is the insertion of a new paragraph 2 to provide the tax treatment at a glance, which is...