diff --git a/go.mod b/go.mod
index 57766829e9..77e9b65300 100644
--- a/go.mod
+++ b/go.mod
@@ -17,14 +17,14 @@ require (
 	github.com/IBM/event-notifications-go-admin-sdk v0.4.0
 	github.com/IBM/eventstreams-go-sdk v1.4.0
 	github.com/IBM/go-sdk-core/v3 v3.2.4
-	github.com/IBM/go-sdk-core/v5 v5.15.1
+	github.com/IBM/go-sdk-core/v5 v5.15.3
 	github.com/IBM/ibm-cos-sdk-go v1.10.0
 	github.com/IBM/ibm-cos-sdk-go-config v1.2.0
 	github.com/IBM/ibm-hpcs-tke-sdk v0.0.0-20211109141421-a4b61b05f7d1
 	github.com/IBM/ibm-hpcs-uko-sdk v0.0.20-beta
 	github.com/IBM/keyprotect-go-client v0.12.2
 	github.com/IBM/networking-go-sdk v0.45.0
-	github.com/IBM/platform-services-go-sdk v0.59.0
+	github.com/IBM/platform-services-go-sdk v0.60.0
 	github.com/IBM/project-go-sdk v0.2.1
 	github.com/IBM/push-notifications-go-sdk v0.0.0-20210310100607-5790b96c47f5
 	github.com/IBM/scc-go-sdk/v5 v5.1.5
@@ -38,7 +38,7 @@ require (
 	github.com/apache/openwhisk-client-go v0.0.0-20200201143223-a804fb82d105
 	github.com/apparentlymart/go-cidr v1.1.0
 	github.com/ghodss/yaml v1.0.1-0.20190212211648-25d852aebe32
-	github.com/go-openapi/strfmt v0.22.0
+	github.com/go-openapi/strfmt v0.22.1
 	github.com/golang-jwt/jwt v3.2.2+incompatible
 	github.com/google/go-cmp v0.6.0
 	github.com/google/uuid v1.6.0
@@ -202,7 +202,7 @@ require (
 	github.com/vmihailenco/msgpack/v5 v5.3.5 // indirect
 	github.com/vmihailenco/tagparser/v2 v2.0.0 // indirect
 	github.com/zclconf/go-cty v1.14.1 // indirect
-	go.mongodb.org/mongo-driver v1.14.0 // indirect; indirec
+	go.mongodb.org/mongo-driver v1.14.0 // indirect
 	go.opentelemetry.io/otel v1.14.0 // indirect
 	go.opentelemetry.io/otel/trace v1.14.0 // indirect
 	go.uber.org/ratelimit v0.2.0 // indirect
diff --git a/go.sum b/go.sum
index f63f7fde3a..a3587f2f8c 100644
--- a/go.sum
+++ b/go.sum
@@ -140,8 +140,8 @@ github.com/IBM/go-sdk-core/v5 v5.7.0/go.mod h1:+YbdhrjCHC84ls4MeBp+Hj4NZCni+tDAc
 github.com/IBM/go-sdk-core/v5 v5.9.2/go.mod h1:YlOwV9LeuclmT/qi/LAK2AsobbAP42veV0j68/rlZsE=
 github.com/IBM/go-sdk-core/v5 v5.9.5/go.mod h1:YlOwV9LeuclmT/qi/LAK2AsobbAP42veV0j68/rlZsE=
 github.com/IBM/go-sdk-core/v5 v5.10.2/go.mod h1:WZPFasUzsKab/2mzt29xPcfruSk5js2ywAPwW4VJjdI=
-github.com/IBM/go-sdk-core/v5 v5.15.1 h1:XOzNZbBgnlxOGK1JMMBtZJYSVguK4TFPJiYutuzFmdA=
-github.com/IBM/go-sdk-core/v5 v5.15.1/go.mod h1:so2mbdIgSp6X8Zm/qLV+whdchTGgi04c3j4xFMsqlCc=
+github.com/IBM/go-sdk-core/v5 v5.15.3 h1:yBSSYLuQSO9Ip+j3mONsTcymoYQyxarQ6rh3aU9cVt8=
+github.com/IBM/go-sdk-core/v5 v5.15.3/go.mod h1:ee+AZaB15yUwZigJdRCwZZ3u7HIvEQzxNUdxVpnJHY8=
 github.com/IBM/ibm-cos-sdk-go v1.3.1/go.mod h1:YLBAYobEA8bD27P7xpMwSQeNQu6W3DNBtBComXrRzRY=
 github.com/IBM/ibm-cos-sdk-go v1.10.0 h1:/2VIev2/jBei39OqU2+nSZQnoWJ+KtkiSAIDkqsd7uU=
 github.com/IBM/ibm-cos-sdk-go v1.10.0/go.mod h1:C8KRTRaoD3CWPPBOa6FCOpdh0ZMlUjKAAA4i3F+Q/sc=
@@ -158,8 +158,8 @@ github.com/IBM/mqcloud-go-sdk v0.0.4 h1:gqMpoU5a0qJ0GETG4PQrkgeEEoaQLvbxRJnEe6yt
 github.com/IBM/mqcloud-go-sdk v0.0.4/go.mod h1:gQptHC6D+rxfg0muRFFGvTDmvl4YfiDE0uXkaRRewRk=
 github.com/IBM/networking-go-sdk v0.45.0 h1:tYgDhVDpgKvELNY7tcodbZ4ny9fatpEWM6PwtQcDe20=
 github.com/IBM/networking-go-sdk v0.45.0/go.mod h1:NnJPA1e5GWr5opJe+5Hs6e1G6RcBIFz64TrkZsdnSp8=
-github.com/IBM/platform-services-go-sdk v0.59.0 h1:FSRM3oKHxzShLCsIIb6Dl+JSaVOXpBWnfWFITJR6DDk=
-github.com/IBM/platform-services-go-sdk v0.59.0/go.mod h1:+U6Kg7o5u/Bh4ZkLxjymSgfdpVsaWAtsMtzhwclUry0=
+github.com/IBM/platform-services-go-sdk v0.60.0 h1:DXCp5hAtFO6quUmb5qKeosQw0ln/fYE5nrKjgXbiSBU=
+github.com/IBM/platform-services-go-sdk v0.60.0/go.mod h1:fcmUb29QKLjMM0UWrR5bAidC7qfKWrf96H0xxmGJHdE=
 github.com/IBM/project-go-sdk v0.2.1 h1:Xo7ITrfyfVm0eCsaC2SADlhcEjqjx9rtU37fwnzGMCI=
 github.com/IBM/project-go-sdk v0.2.1/go.mod h1:lqe0M4cKvABI1iHR1b+KfasVcxQL6nl2VJ8eOyQs8Ig=
 github.com/IBM/push-notifications-go-sdk v0.0.0-20210310100607-5790b96c47f5 h1:NPUhkoOCRuv3OFWt19PmwjXGGTKlvmbuPg9fUrBUNe4=
@@ -552,8 +552,8 @@ github.com/go-openapi/strfmt v0.21.1/go.mod h1:I/XVKeLc5+MM5oPNN7P6urMOpuLXEcNrC
 github.com/go-openapi/strfmt v0.21.2/go.mod h1:I/XVKeLc5+MM5oPNN7P6urMOpuLXEcNrCX/rPGuWb0k=
 github.com/go-openapi/strfmt v0.21.3/go.mod h1:k+RzNO0Da+k3FrrynSNN8F7n/peCmQQqbbXjtDfvmGg=
 github.com/go-openapi/strfmt v0.21.7/go.mod h1:adeGTkxE44sPyLk0JV235VQAO/ZXUr8KAzYjclFs3ew=
-github.com/go-openapi/strfmt v0.22.0 h1:Ew9PnEYc246TwrEspvBdDHS4BVKXy/AOVsfqGDgAcaI=
-github.com/go-openapi/strfmt v0.22.0/go.mod h1:HzJ9kokGIju3/K6ap8jL+OlGAbjpSv27135Yr9OivU4=
+github.com/go-openapi/strfmt v0.22.1 h1:5Ky8cybT4576C6Ffc+8gYji/wRXCo6Ozm8RaWjPI6jc=
+github.com/go-openapi/strfmt v0.22.1/go.mod h1:OfVoytIXJasDkkGvkb1Cceb3BPyMOwk1FgmyyEw7NYg=
 github.com/go-openapi/swag v0.0.0-20160704191624-1d0bd113de87/go.mod h1:DXUve3Dpr1UfpPtxFw+EFuQ41HhCWZfha5jSVRG7C7I=
 github.com/go-openapi/swag v0.17.0/go.mod h1:AByQ+nYG6gQg71GINrmuDXCPWdL640yX49/kXLo40Tg=
 github.com/go-openapi/swag v0.18.0/go.mod h1:AByQ+nYG6gQg71GINrmuDXCPWdL640yX49/kXLo40Tg=
@@ -1280,7 +1280,7 @@ github.com/onsi/gomega v1.27.7/go.mod h1:1p8OOlwo2iUUDsHnOrjE5UKYJ+e3W8eQ3qSlRah
 github.com/onsi/gomega v1.27.8/go.mod h1:2J8vzI/s+2shY9XHRApDkdgPo1TKT7P2u6fXeJKFnNQ=
 github.com/onsi/gomega v1.27.10/go.mod h1:RsS8tutOdbdgzbPtzzATp12yT7kM5I5aElG3evPbQ0M=
 github.com/onsi/gomega v1.29.0/go.mod h1:9sxs+SwGrKI0+PWe4Fxa9tFQQBG5xSsSbMXOI8PPpoQ=
-github.com/onsi/gomega v1.30.0 h1:hvMK7xYz4D3HapigLTeGdId/NcfQx1VHMJc60ew99+8=
+github.com/onsi/gomega v1.31.1 h1:KYppCUK+bUgAZwHOu7EXVBKyQA6ILvOESHkn/tgoqvo=
 github.com/opencontainers/go-digest v1.0.0-rc1/go.mod h1:cMLVZDEM3+U2I4VmLI6N8jQYUd2OVphdqWwCJHrFt2s=
 github.com/opencontainers/go-digest v1.0.0 h1:apOUWs51W5PlhuyGyz9FCeeBIOUDA/6nW8Oi/yOhh5U=
 github.com/opencontainers/image-spec v1.0.1/go.mod h1:BtxoFyWECRxE4U/7sNtV5W15zMzWCbyJoFRP3s7yZA0=
diff --git a/ibm/service/globaltagging/resource_ibm_resource_tag.go b/ibm/service/globaltagging/resource_ibm_resource_tag.go
index 0dc6abe309..60c0d9761d 100644
--- a/ibm/service/globaltagging/resource_ibm_resource_tag.go
+++ b/ibm/service/globaltagging/resource_ibm_resource_tag.go
@@ -23,8 +23,9 @@ const (
 	tags         = "tags"
 	resourceType = "resource_type"
 	tagType      = "tag_type"
-	acccountID   = "acccount_id"
+	accountID    = "account_id"
 	service      = "service"
+	replace      = "replace"
 )
 
 func ResourceIBMResourceTag() *schema.Resource {
@@ -68,11 +69,18 @@ func ResourceIBMResourceTag() *schema.Resource {
 				ValidateFunc: validate.InvokeValidator("ibm_resource_tag", tagType),
 				Description:  "Type of the tag. Only allowed values are: user, or service or access (default value : user)",
 			},
-			acccountID: {
+			accountID: {
 				Type:        schema.TypeString,
 				Computed:    true,
 				Description: "The ID of the account that owns the resources to be tagged (required if tag-type is set to service)",
 			},
+			replace: {
+				Type:             schema.TypeBool,
+				DiffSuppressFunc: flex.ApplyOnce,
+				Optional:         true,
+				Default:          false,
+				Description:      "If true, it indicates that the attaching operation is a replacement operation",
+			},
 		},
 	}
 }
@@ -154,6 +162,12 @@ func resourceIBMResourceTagCreate(d *schema.ResourceData, meta interface{}) erro
 		}
 	}
 
+	if v, ok := d.GetOk(replace); ok && v != nil {
+		replace := v.(bool)
+		AttachTagOptions.Replace = &replace
+
+	}
+
 	// Fetch tags from schematics only if they are user tags
 	if strings.TrimSpace(tagType) == "" || tagType == "user" {
 		schematicTags := os.Getenv("IC_ENV_TAGS")
@@ -207,7 +221,7 @@ func resourceIBMResourceTagRead(d *schema.ResourceData, meta interface{}) error
 		tType = v.(string)
 
 		if tType == service {
-			d.Set(acccountID, acctID)
+			d.Set(accountID, acctID)
 		}
 	}
 
diff --git a/ibm/service/globaltagging/resource_ibm_resource_tag_test.go b/ibm/service/globaltagging/resource_ibm_resource_tag_test.go
index 41a9995985..4af410a6d0 100644
--- a/ibm/service/globaltagging/resource_ibm_resource_tag_test.go
+++ b/ibm/service/globaltagging/resource_ibm_resource_tag_test.go
@@ -92,3 +92,46 @@ func testAccCheckResourceTagCreate(name, managed_from string) string {
 	}
 `, name, managed_from)
 }
+
+func TestAccResourceTag_replace_Basic(t *testing.T) {
+	name := fmt.Sprintf("tf-cos-%d", acctest.RandIntRange(10, 100))
+
+	resource.Test(t, resource.TestCase{
+		PreCheck:  func() { acc.TestAccPreCheck(t) },
+		Providers: acc.TestAccProviders,
+		Steps: []resource.TestStep{
+
+			{
+				Config: testAccCheckResourceTagCreate_replace(name),
+				Check: resource.ComposeAggregateTestCheckFunc(
+					testAccCheckResourceTagExists("ibm_resource_tag.tag"),
+					resource.TestCheckResourceAttr("ibm_resource_tag.tag", "tags.#", "1"),
+				),
+			},
+			{
+				ResourceName:      "ibm_resource_tag.tag",
+				ImportState:       true,
+				ImportStateVerify: true,
+			},
+		},
+	})
+}
+
+func testAccCheckResourceTagCreate_replace(name string) string {
+	return fmt.Sprintf(`
+
+        resource "ibm_resource_instance" "resource_1" {
+          name              = "%s"
+          service           = "cloud-object-storage"
+          plan              = "lite"
+          location          = "global"
+
+        }
+
+        resource "ibm_resource_tag" "tag" {
+            resource_id = resource.ibm_resource_instance.resource_1.crn
+            tags        = ["test:test"]
+            replace     = true
+        }
+    `, name)
+}
diff --git a/website/docs/r/resource_tag.html.markdown b/website/docs/r/resource_tag.html.markdown
index 0bff7a1eed..ca3766944d 100644
--- a/website/docs/r/resource_tag.html.markdown
+++ b/website/docs/r/resource_tag.html.markdown
@@ -33,6 +33,7 @@ Review the argument references that you can specify for your resource.
 - `resource_type` - (Optional, String) The resource type on which the tags should be attached.
 - `tag_type` - (Optional, String) Type of the tag. Supported values are: `user`, `service`, or `access`. The default value is user.
 - `tags` - (Required, Array of strings) List of tags associated with resource instance.
+- `replace` - (Optional, Bool) If true, it indicates that the attaching operation is a replacement operation
 
 ## Attributes reference
 In addition to all argument reference list, you can access the following attribute reference after your resource is created.