The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide - Income Tax: Foreign Tax Credit Pooling (Second Edition). The e-Tax Guide provides details on the foreign tax credit pooling (FTC pooling) system, which has been effective from the year of assessment (YA) 2012. Under the FTC pooling system, taxpayers resident in Singapore may elect to aggregate the foreign taxes paid (including any underlying tax, where applicable) on any items of their foreign income. This applies to foreign income received in Singapore during the basis period for the YA 2012 and for subsequent YAs, and is available...