.png?sfvrsn=dd675fd5_2)
-(1).png?sfvrsn=db949de5_0)
6a6c7fe2013f4be3b0ecc0a5930da5c9.jpg?sfvrsn=ab5334c8_0)
/business-management-global-connection/istock-1167579720-c.jpg?sfvrsn=ff93f9a5_2)
/audit-assurance/istock-1169206203-c.jpg?sfvrsn=1d6f9b25_6)
/ethics-and-professionalism/istock-1141115724-c.jpg?sfvrsn=4e54d691_2)
/audit-assurance/istock-818732836-c-v3.jpg?sfvrsn=ae44e7b7_0)
.png?sfvrsn=905ee1bd_0)
/legal-secretarial/istock-866706340-c.jpg?sfvrsn=d7f57b8c_2)
To address the potential impact of BEPS 2.0, the RIC scheme was introduced in 2024 to encourage companies to make significant new or expanded investments in substantive economic activities in Singapore in key economic sectors and new growth areas.
ISCA has developed a draft Financial Reporting Guidance 5 (FRG 5) to provide guidance on how to account for the RIC in accordance with SFRS(I)s. Illustrative examples have also been included to aid in the understanding of the principles being applied. The said draft guidance has been issued as an exposure draft (ED FRG 5) for public consultation on 7 February 2025.
ISCA welcomes feedback/views on ED FRG 5. Comments should be sent, in writing, to professionalstandards@isca.org.sg, no later than 6 March 2025.