INTERNATIONAL TAX PLAZA - Singapore – CAAs for CRS with Australia, Korea, Italy, Canada and Latvia entered into force

Details: Published: 27 February 2017

From the overview of Competent Authority Agreements that Singapore has concluded with the following jurisdictions for the Common Reporting Standard entered into force on February 27, 2017:

· Australia;

· Korea;

· Italy;

· Canada; and

· Latvia.

With the above, the respective jurisdictions will be regarded as "Reportable Jurisdictions". Singaporean Financial Institutions will have to transmit to IRAS the financial account information of accounts held by persons that are tax residents of the above Reportable Jurisdictions, with the first submission due by May 31, 2018.

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