The Inland Revenue Authority of Singapore (IRAS) has published an updated 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 (Second Edition). The 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 treatment is summarized in the e-tax guide as follows: --- When trading stock of a person's trade or business is appropriated for non-trade or capital purposes An amount equal...