Can I declare the stock option gains in a foreign currency?

You need to report the foreign stock option gains in Singapore currency for Form IR8A and Appendix 8B.

Actual exchange rates

For the conversion, you should use the actual exchange rate as of the date the employee exercised the stock option.

In-house exchange rates

If you do not have the exchange rate on the date of exercise, you may use your organisation's in-house exchange rate for conversion purpose.

Published exchange rates

If your organisation does not have any in-house exchange rate, you may use the exchange rates published by local banks, locally circulated newspapers and reputable news agencies.

You may use any of the sources of exchange rates listed above. Ensure that you:

1. Uses the same source for all employees
2. Apply the same source for all years
3. Communicates to all employees the source of exchange rate that will be used for the purpose of foreign currency conversion in reporting their stock option gains to IRAS

This information provided here is sourced from the IRAS website.