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It clarifies when disposal gains are taxable, including the treatment of foreign-sourced disposal gains under section 10(1)(g) of the Income Tax Act 1947 when statutory conditions are met. It also explains covered entities and covered income, scenarios where certain disposals are not subject to tax, and how economic substance requirements affect taxation, including topics like covered foreign IPs, price adjustments, and foreign tax credits.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/income-tax-tax-treatment-of-gains-or-losses-from-the-sale-of-foreign-assets-third-edition/303614/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/income-tax-tax-treatment-of-gains-or-losses-from-the-sale-of-foreign-assets-third-edition/303614.png","ImageObject",442,249,{"name":88,"@type":89},"Ava Thompson","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-21","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":9},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"When are gains from the sale of foreign assets treated as taxable in Singapore?","Question",{"text":108,"@type":109},"Gains from the sale or disposal of foreign assets are treated as chargeable to tax under section 10(1)(g) of the Income Tax Act 1947 when received in Singapore by a covered entity and the relevant conditions described in the guide are met.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How does the guide explain the tax treatment change on 1 January 2024?",{"text":113,"@type":109},"The guide distinguishes tax treatment for disposal gains prior to 1 January 2024 from disposal gains from 1 January 2024, reflecting Singapore’s amended foreign-sourced income regime to address international tax avoidance risks.",{"name":115,"@type":106,"acceptedAnswer":116},"What role do economic substance requirements play for foreign IP gains?",{"text":117,"@type":109},"Economic substance requirements in Singapore affect how gains from the sale or disposal of foreign IPRs are taxed. The guide includes a dedicated section on meeting the economic substance requirement and then covers the specific treatment of gains from foreign IPRs.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},303614,1789805706,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":9,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":125,"read_time":140},1649267921044,"https://us-avatar.wpscdn.com/avatar/1800007509477c92dfb?_k=1786009248482753345","0  \nIRAS e-Tax Guide  \nIncome Tax: Tax Treatment of Gains or Losses from the Sale of Foreign Assets  \n(Third Edition)  \nPublished by  \nInland Revenue Authority of Singapore  \nPublished on 6 June 2025  \nFirst edition on 8 December 2023 Second edition on 9 December 2024  \nDisclaimers: IRAS shall not be responsible or held accountable in any way for any damage, loss or expense whatsoever, arising directly or indirectly from any inaccuracy or incompleteness in the Contents of this e-Tax Guide, or errors or omissions in the transmission of the Contents. IRAS shall not be responsible or held accountable in any way for any decision made or action taken by you or any third party in reliance upon the Contents in this e-Tax Guide. Except where specific contents carry legal force, this information aims to provide a better general understanding of taxpayers’ tax obligations and is not intended to comprehensively address all possible tax issues that may arise. While every effort has been made to ensure that this information is consistent with existing law and practice, should there be any changes, IRAS reserves the right to vary its position accordingly.  \n© Inland Revenue Authority of Singapore  \nAll rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording without the written permission of the copyright holder, application for which should be addressed to the publisher. Such written permission must also be obtained before any part of this publication is stored in a retrieval system of any nature.  \nTable of Contents  \n1. Aim .......................................................................................................... 1  \n2. At a Glance.............................................................................................. 1  \n3. Tax Treatment of Disposal Gains Prior to 1 January 2024 ......................2  \n4. Tax Treatment of Disposal Gains From 1 January 2024 .........................2  \n5. Covered Entities ......................................................................................3  \n6. Covered Income ......................................................................................5  \n7. Scenarios where the Sale or Disposal of Foreign Assets (Excluding IPRs) are Not Subject to Tax .................................................5  \n8. Meeting of Economic Substance Requirement in Singapore...................7  \n9. Tax Treatment of Gains from the Sale or Disposal of Foreign IPRs.............................................................................................................. 13  \n10. Ascertainment of Gains Chargeable to Tax ........................................... 16  \n11. Adjustment to Open-Market Price.......................................................... 18  \n12. Foreign Tax Credit ................................................................................. 19  \n13. Exemption from Tax for Individuals Who Receive Gains from the Sale of Foreign Assets by an Entity....................................................... 19  \n14. Administrative Requirements for covered entities with covered income ...................................................................................................20  \n15. Advance Ruling on Adequacy of Economic Substance .........................21  \n16. Contact Information ...............................................................................21  \n17. Frequently Asked Questions .................................................................22  \n18. Updates and Amendments ....................................................................27  \nAnnex A – List of Assets which are Determined to be Situated Outside Singapore ..............................................................................................28  \nAnnex B – Guidance on the Core Income Generating Activities in relation to the Economic Substance Requirement for Each Sector............","cbCaigY6j2YCTDvt","https://ap.wps.com/l/cbCaigY6j2YCTDvt","pdf",488345,37,"English","# Aim\n# At a Glance\n# Tax Treatment of Disposal Gains Prior to 1 January 2024\n# Tax Treatment of Disposal Gains From 1 January 2024\n# Covered Entities\n# Covered Income\n# Scenarios where the Sale or Disposal of Foreign Assets (Excluding IPRs) are Not Subject to Tax\n# Meeting of Economic Substance Requirement in Singapore\n# Tax Treatment of Gains from the Sale or Disposal of Foreign IPRs\n# Ascertainment of Gains Chargeable to Tax\n# Adjustment to Open-Market Price\n# Foreign Tax Credit\n# Exemption from Tax for Individuals Who Receive Gains from the Sale of Foreign Assets by an Entity\n# Administrative Requirements for covered entities with covered income\n# Advance Ruling on Adequacy of Economic Substance\n# Contact Information\n# Frequently Asked Questions\n# Updates and Amendments\n# Annex A – List of Assets which are Determined to be Situated Outside Singapore\n# Annex B – Guidance on the Core Income Generating Activities in relation to the Economic Substance Requirement for Each Sector","[{\"question\":\"When are gains from the sale of foreign assets treated as taxable in Singapore?\",\"answer\":\"Gains from the sale or disposal of foreign assets are treated as chargeable to tax under section 10(1)(g) of the Income Tax Act 1947 when received in Singapore by a covered entity and the relevant conditions described in the guide are met.\"},{\"question\":\"How does the guide explain the tax treatment change on 1 January 2024?\",\"answer\":\"The guide distinguishes tax treatment for disposal gains prior to 1 January 2024 from disposal gains from 1 January 2024, reflecting Singapore’s amended foreign-sourced income regime to address international tax avoidance risks.\"},{\"question\":\"What role do economic substance requirements play for foreign IP gains?\",\"answer\":\"Economic substance requirements in Singapore affect how gains from the sale or disposal of foreign IPRs are taxed. The guide includes a dedicated section on meeting the economic substance requirement and then covers the specific treatment of gains from foreign IPRs.\"}]","Income Tax: Tax Treatment of Gains or Losses from the Sale of Foreign Assets - Third Edition | PDF",13]