The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide, Filing of Income Tax Computations in Functional Currencies other than Singapore Dollars (Second Edition), which explains the rules for filing income tax computations in non-SGD currencies and applies to businesses that prepare their financial statements in non-SGD functional currencies. The latest guide replaces the first edition issued in 2012 and includes various updates and editorial changes, as well as the removal of certain information that is no longer relevant. As explained in the e-Tax Guide, companies are required to prepare their financial statements in their functional currencies,...