The Inland Revenue Authority of Singapore (IRAS) has published a new e-Tax Guide, Income Tax: Tax Treatment of Gains or Losses from the Sale of Foreign Assets. The e-Tax Guide explains the new income tax treatment of gains or losses from the sale or disposal of movable or immovable property situated outside Singapore (referred to as "foreign assets") from 1 January 2024. --- 2. At a Glance 2.1 Currently, gains from the sale of foreign assets that are capital in nature are not taxable. 2.2 To address international tax avoidance risks relating to non-taxation of disposal gains in the absence...