Regulation 3A

is required for any year of assessment to furnish its tax computation and particulars of its income in Singapore dollar; and

has, in any previous year of assessment, furnished its tax computation and particulars of its income in a non‑Singapore dollar functional currency,the licensed insurer must convert the following amounts denominated in the functional currency into an equivalent amount in Singapore dollar in accordance with the applicable rate of exchange mentioned in regulation 4:

the residue of the value of any machinery, plant or right mentioned in section 19, 19A, 19B or 19C of the Act, after deducting any allowance that has been made under any of those sections;

any expenses or balance of expenses which are allowed as deductions for that year of assessment or any subsequent year of assessment, or any earlier year of assessment that is approved by the Comptroller;

income from any source that is chargeable to tax for that year of assessment or any subsequent year of assessment, or any earlier year of assessment that is approved by the Comptroller;

the value of any asset which has been granted an initial or annual allowance under section 19 or 19A of the Act for the purposes of calculating any balancing charge under section 20 of the Act;

any allowance falling to be made under section 19, 19A, 19B, 19C or 20 of the Act which remains unabsorbed at the end of the previous year of assessment;

the amount of any loss incurred in any trade or business which remains unabsorbed at the end of the basis period for the previous year of assessment;

the amount of deduction allowed in respect of any donation under section 37(3) of the Act which remains unabsorbed at the end of the basis period for the previous year of assessment.