The Inland Revenue Authority of Singapore has published an updated e-Tax Guide, Deduction for Statutory and Regulatory Expenses (Second Edition). The guide has been updated to reflect renumbered provisions based on the Income Tax Act 1947 (the ITA), as well as updated citations of Acts. The guide explains the rationale and scope of the deduction allowed for qualifying statutory and regulatory expenses. The e-Tax Guide is relevant to taxpayers that have incurred such expenses during the basis periods for Year of Assessment (YA) 2014 and subsequent YAs. As explained in the guide, businesses are often required to comply with various...