The Inland Revenue Authority of Singapore (IRAS) has published a new e-Tax Guide, Tax Treatment on Appropriation of Trading Stock for Non-Trade or Capital Purposes and Conversion of Non-Trade or Capital Assets to Trading Stock. The e-Tax Guide provides details on the income tax treatment when trading stock held by businesses is appropriated for non-trade or capital purposes and when non-trade or capital assets are converted to trading stock. The e-Tax Guide is relevant for taxpayers carrying on any trade or business that maintain trading stock and assets for the purpose of their trade or business. The tax treatment is...