The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide, Income Tax: Tax Deduction for Borrowing Costs Other Than Interest Expenses (Fourth Edition). The e-Tax Guide provides the scope of tax deductions for borrowing costs (other than interest expenses) that are incurred as a substitute for interest expense or to reduce interest costs and the details of such borrowing costs that will be granted a tax deduction. The updated guide includes editorial changes, certain clarifications, and updated and new examples. --- 2 At a glance 2.1 With effect from the Year of Assessment ("YA") 2008, borrowing costs...